Penguin Solutions (NASDAQ:PENG) Receives $25.43 Average PT from Analysts

Shares of Penguin Solutions (NASDAQ:PENG) have earned an average recommendation of “Buy” from the eight research firms that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $25.43.

PENG has been the topic of a number of recent analyst reports. Needham & Company LLC upped their target price on Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, January 9th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $27.00 price target on shares of Penguin Solutions in a report on Thursday, December 19th. Citizens Jmp upgraded shares of Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. Barclays boosted 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. Finally, Loop Capital started coverage on shares of Penguin Solutions in a research report on Tuesday, January 7th. They set a “buy” rating and a $30.00 price target on the stock.

Penguin Solutions Stock Performance

NASDAQ:PENG opened at $18.95 on Monday. The firm has a market capitalization of $1.01 billion, a PE ratio of -36.44 and a beta of 1.70. Penguin Solutions has a one year low of $14.87 and a one year high of $22.67. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.75 and a current ratio of 2.33. The stock has a 50-day simple moving average of $20.20.

Insiders Place Their Bets

In related news, COO Jack A. Pacheco sold 13,334 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $20.05, for a total transaction of $267,346.70. Following the completion of the sale, the chief operating officer now owns 235,960 shares of the company’s stock, valued at $4,730,998. This represents a 5.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Joseph Gates Clark sold 2,131 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $20.94, for a total transaction of $44,623.14. Following the sale, the senior vice president now owns 89,469 shares in the company, valued at approximately $1,873,480.86. This trade represents a 2.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,465 shares of company stock valued at $729,904. Company insiders own 2.60% of the company’s stock.

Penguin Solutions Company Profile

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.