Penguin Solutions, Inc. (NASDAQ:PENG) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Penguin Solutions, Inc. (NASDAQ:PENG) have received an average recommendation of “Moderate Buy” from the ten analysts that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $27.25.

A number of equities analysts have recently commented on PENG shares. Wall Street Zen raised shares of Penguin Solutions from a “hold” rating to a “buy” rating in a report on Sunday, May 17th. Barclays lowered shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $23.00 to $27.00 in a report on Wednesday, April 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $30.00 price target on shares of Penguin Solutions in a report on Monday, March 30th. Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Finally, Stifel Nicolaus decreased their price target on shares of Penguin Solutions from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd.

Insider Buying and Selling at Penguin Solutions

In related news, SVP Anne Kuykendall sold 4,000 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $17.75, for a total transaction of $71,000.00. Following the transaction, the senior vice president owned 131,352 shares of the company’s stock, valued at approximately $2,331,498. This trade represents a 2.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joseph Gates Clark sold 12,546 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $22.55, for a total transaction of $282,912.30. Following the transaction, the senior vice president directly owned 99,726 shares in the company, valued at approximately $2,248,821.30. This represents a 11.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 68,769 shares of company stock worth $2,473,051 in the last quarter. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Penguin Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its holdings 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 $29,000. Strs Ohio bought a new position in shares of Penguin Solutions during the 3rd quarter valued at $42,000. Jones Financial Companies Lllp grew its holdings 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 grew its holdings 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 Stock Performance

Penguin Solutions stock opened at $54.95 on Wednesday. The firm’s 50 day simple moving average is $30.14 and its 200 day simple moving average is $23.40. The company has a current ratio of 2.10, a quick ratio of 1.55 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $2.79 billion, a PE ratio of 76.32 and a beta of 2.66. Penguin Solutions has a 1-year low of $16.04 and a 1-year high of $55.65.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The firm had revenue of $343.00 million for the quarter, compared to analyst estimates of $339.00 million. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. As a group, analysts expect that Penguin Solutions will post 1.66 earnings per share for the current fiscal year.

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.