Penguin Solutions (NASDAQ:PENG) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Penguin Solutions (NASDAQ:PENG) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

PENG has been the topic of several other reports. The Goldman Sachs Group started coverage on Penguin Solutions in a research report on Tuesday, January 13th. They set a “buy” rating and a $25.00 price objective on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $30.00 price objective on shares of Penguin Solutions in a research report on Monday, March 30th. Barclays cut Penguin Solutions from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $23.00 to $27.00 in a research report on Wednesday, April 22nd. Needham & Company LLC increased their price objective on Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Finally, Weiss Ratings raised Penguin Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.25.

Penguin Solutions Trading Up 13.5%

Penguin Solutions stock opened at $44.23 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.10 and a quick ratio of 1.55. Penguin Solutions has a one year low of $16.04 and a one year high of $44.74. The stock has a market capitalization of $2.24 billion, a PE ratio of 61.43 and a beta of 2.66. The business’s fifty day moving average is $22.58 and its 200 day moving average is $21.02.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings data on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.43 by $0.09. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%.The company had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $339.00 million. On average, sell-side analysts predict that Penguin Solutions will post 1.66 EPS for the current year.

Insider Activity at Penguin Solutions

In related news, SVP Joseph Gates Clark sold 5,000 shares of Penguin Solutions stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $29.75, for a total transaction of $148,750.00. Following the sale, the senior vice president owned 86,776 shares of the company’s stock, valued at approximately $2,581,586. This trade represents a 5.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of Penguin Solutions stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $17.75, for a total value of $71,000.00. Following the sale, the senior vice president directly owned 131,352 shares in the company, valued at $2,331,498. This trade represents a 2.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,115 shares of company stock worth $723,997 in the last three months. 2.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Penguin Solutions

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in shares of Penguin Solutions by 187.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock valued at $28,000 after purchasing an additional 946 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Penguin Solutions during the 4th quarter valued at approximately $29,000. Strs Ohio bought a new position in shares of Penguin Solutions during the 3rd quarter valued at approximately $42,000. Jones Financial Companies Lllp increased its position in shares of Penguin Solutions by 4,131.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company’s stock valued at $45,000 after purchasing an additional 1,694 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Penguin Solutions by 41.4% during the 3rd quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock valued at $47,000 after purchasing an additional 525 shares during the last quarter.

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.