Penguin Solutions (NASDAQ:PENG) Receives $25.43 Average Price Target from Brokerages

Penguin Solutions (NASDAQ:PENG) has been assigned a consensus rating of “Buy” from the eight analysts that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $25.43.

PENG has been the topic of several research analyst reports. The Goldman Sachs Group began coverage on shares of Penguin Solutions in a research report on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective on the stock. Needham & Company LLC raised their price objective on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, January 9th. Barclays upped their target price on shares of Penguin Solutions from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. Citizens Jmp raised Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. Finally, JMP Securities started coverage on Penguin Solutions in a report on Monday, November 18th. They issued an “outperform” rating and a $23.00 price objective for the company.

Insider Transactions at Penguin Solutions

In other Penguin Solutions news, COO Jack A. Pacheco sold 13,334 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $20.05, for a total value of $267,346.70. Following the sale, the chief operating officer now owns 235,960 shares of the company’s stock, valued at $4,730,998. This trade represents a 5.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Gates Clark sold 2,264 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.50, for a total value of $39,620.00. Following the completion of the sale, the insider now directly owns 95,999 shares in the company, valued at $1,679,982.50. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,264 shares of company stock worth $440,287. Company insiders own 2.60% of the company’s stock.

Penguin Solutions Trading Up 1.5 %

Penguin Solutions stock opened at $19.58 on Friday. The business’s 50 day moving average price is $18.78. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65. Penguin Solutions has a 1-year low of $14.87 and a 1-year high of $29.81. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -19.58 and a beta of 1.69.

Penguin Solutions (NASDAQ:PENG) last posted its earnings results on Tuesday, October 15th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.04). Penguin Solutions had a positive return on equity of 8.05% and a negative net margin of 4.48%. The business had revenue of $311.15 million for the quarter, compared to analysts’ expectations of $325.00 million. Research analysts forecast that Penguin Solutions will post 1.33 earnings per share for the current year.

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.