PENG (NASDAQ:PENG) Receives $23.60 Average Target Price from Analysts

PENG (NASDAQ:PENG) has received an average recommendation of “Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $23.60.

A number of research firms have issued reports on PENG. Citizens Jmp raised PENG to a “strong-buy” rating in a report on Monday, November 18th. Needham & Company LLC cut their price objective on PENG from $35.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. The Goldman Sachs Group started coverage on PENG in a research report on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective on the stock. Stifel Nicolaus cut their target price on PENG from $32.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Finally, JMP Securities began coverage on shares of PENG in a research report on Monday, November 18th. They issued an “outperform” rating and a $23.00 price objective for the company.

Insiders Place Their Bets

In related news, insider Joseph Gates Clark sold 2,264 shares of PENG stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.50, for a total transaction of $39,620.00. Following the sale, the insider now directly owns 95,999 shares in the company, valued at $1,679,982.50. This trade represents a 2.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.40% of the company’s stock.

PENG Trading Up 2.4 %

Shares of NASDAQ:PENG opened at $18.08 on Friday. PENG has a one year low of $14.87 and a one year high of $29.81. The firm has a market cap of $963.48 million, a PE ratio of -18.53 and a beta of 1.70. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.65 and a quick ratio of 2.19.

PENG (NASDAQ:PENG) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.04). PENG had a negative net margin of 4.48% and a positive return on equity of 8.05%. The business had revenue of $311.15 million for the quarter, compared to analyst estimates of $325.00 million. As a group, equities research analysts anticipate that PENG will post 1.33 earnings per share for the current fiscal year.

PENG Company Profile

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced 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.