Penguin Solutions (NASDAQ:PENG) Given Average Rating of “Buy” by Brokerages

Penguin Solutions (NASDAQ:PENG) has been assigned a consensus rating of “Buy” from the eight research firms that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $25.43.

PENG has been the topic of a number of recent research reports. Needham & Company LLC boosted their target price on Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, January 9th. Loop Capital started coverage on shares of Penguin Solutions in a research note on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and issued a $27.00 target price on shares of Penguin Solutions in a research note on Thursday, December 19th. Finally, Barclays boosted their price target on shares of Penguin Solutions from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th.

Insider Activity at Penguin Solutions

In related news, SVP Joseph Gates Clark sold 2,131 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $20.94, for a total value of $44,623.14. Following the completion of the transaction, the senior vice president now directly owns 89,469 shares of the company’s stock, valued at $1,873,480.86. This trade represents a 2.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jack A. Pacheco sold 6,667 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $20.55, for a total value of $137,006.85. Following the sale, the chief operating officer now owns 231,548 shares in the company, valued at approximately $4,758,311.40. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,684 shares of company stock worth $393,617 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Penguin Solutions Stock Down 3.6 %

Shares of PENG stock opened at $18.25 on Friday. The firm has a 50-day moving average of $19.80. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.33 and a quick ratio of 1.75. The firm has a market cap of $972.56 million, a PE ratio of -35.10 and a beta of 1.70. Penguin Solutions has a 52-week low of $14.87 and a 52-week high of $22.67.

About Penguin Solutions

Penguin Solutions, Inc engages in the designing and development of enterprise solutions worldwide. It operates through three segments: Advanced Computing, Integrated Memory, and Optimized LED. It offers dynamic random access memory modules, solid-state and flash storage, and other advanced integrated memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services, including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.