PENG (NASDAQ:PENG) Coverage Initiated at JMP Securities

JMP Securities assumed coverage on shares of PENG (NASDAQ:PENG) in a research note issued on Monday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $23.00 price target on the stock. JMP Securities’ price target suggests a potential upside of 34.42% from the stock’s current price.

A number of other equities analysts also recently weighed in on PENG. Barclays decreased their target price on shares of PENG from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. The Goldman Sachs Group started coverage on PENG in a research note on Friday, November 1st. They set a “buy” rating and a $21.00 price objective for the company. Needham & Company LLC cut their target price on PENG from $35.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Finally, Stifel Nicolaus reduced their price target on PENG from $32.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $23.60.

PENG Stock Performance

NASDAQ PENG opened at $17.11 on Monday. The company has a market cap of $911.79 million, a P/E ratio of -17.11 and a beta of 1.70. PENG has a twelve month low of $14.87 and a twelve month high of $29.81. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.65.

PENG (NASDAQ:PENG) last released its earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). PENG 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 during the quarter, compared to analysts’ expectations of $325.00 million. As a group, equities analysts predict that PENG will post 1.33 EPS for the current year.

Insider Activity at PENG

In related news, insider Joseph Gates Clark sold 2,264 shares of PENG 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 approximately $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 can be accessed through the SEC website. 2.40% of the stock is currently owned by insiders.

About PENG

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.