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

Shares of Penguin Solutions, Inc. (NASDAQ:PENG) have earned a consensus rating of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $36.8750.

Several equities analysts have commented on the company. Stifel Nicolaus increased their target price on Penguin Solutions from $24.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Wall Street Zen upgraded Penguin Solutions from a “hold” rating to a “buy” rating in a research report on Sunday, May 17th. Needham & Company LLC increased 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, April 2nd. Barclays lowered shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $23.00 to $27.00 in a report on Wednesday, April 22nd. Finally, Weiss Ratings lowered shares of Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th.

Insider Buying and Selling at Penguin Solutions

In related news, SVP Joseph Gates Clark sold 10,351 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $58.87, for a total transaction of $609,363.37. Following the transaction, the senior vice president directly owned 66,425 shares in the company, valued at approximately $3,910,439.75. The trade was a 13.48% decrease in their ownership of the stock. The transaction 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, Director Maximiliane C. Straub sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the completion of the sale, the director directly owned 51,975 shares in the company, valued at approximately $2,546,775. This trade represents a 5.46% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 83,120 shares of company stock valued at $3,486,734. Insiders own 2.90% of the company’s stock.

Institutional Trading of Penguin Solutions

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada bought a new position in shares of Penguin Solutions during the first quarter valued at about $7,250,000. Amundi bought a new position in shares of Penguin Solutions during the first quarter valued at about $373,000. AQR Capital Management LLC bought a new position in shares of Penguin Solutions during the first quarter valued at about $1,076,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Penguin Solutions during the first quarter valued at about $538,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Penguin Solutions during the first quarter valued at about $3,259,000.

Penguin Solutions Stock Performance

NASDAQ PENG opened at $62.28 on Friday. The firm’s fifty day moving average price is $50.18 and its two-hundred day moving average price is $30.36. The stock has a market cap of $3.16 billion, a PE ratio of 86.50 and a beta of 2.89. Penguin Solutions has a fifty-two week low of $16.04 and a fifty-two week high of $77.40. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.55 and a current ratio of 2.10.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. The company had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $339.00 million. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%. On average, equities analysts expect that Penguin Solutions will post 1.79 EPS for the current fiscal 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.