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

Shares of Penguin Solutions, Inc. (NASDAQ:PENG) have been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $63.3333.

PENG has been the topic of several research reports. Barclays downgraded shares of Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 price target on the stock. in a research note on Monday. Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Weiss Ratings upgraded shares of Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. Needham & Company LLC raised their target price on shares of Penguin Solutions from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Finally, Citigroup restated an “outperform” rating on shares of Penguin Solutions in a report on Wednesday, July 8th.

Insider Buying and Selling

In other Penguin Solutions news, SVP Anne Kuykendall sold 4,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $64.38, for a total value of $257,520.00. Following the completion of the sale, the senior vice president directly owned 120,794 shares in the company, valued at $7,776,717.72. This represents a 3.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sandeep Nayyar sold 12,893 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $45.09, for a total value of $581,345.37. Following the completion of the sale, the director directly owned 32,524 shares of the company’s stock, valued at $1,466,507.16. This trade represents a 28.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 63,351 shares of company stock worth $3,008,101. 2.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PENG. Royal Bank of Canada acquired a new stake in Penguin Solutions during the first quarter worth about $7,250,000. Amundi purchased a new position in Penguin Solutions during the first quarter worth about $373,000. AQR Capital Management LLC acquired a new position in Penguin Solutions in the 1st quarter valued at about $1,076,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Penguin Solutions in the 1st quarter valued at about $538,000. Finally, Goldman Sachs Group Inc. acquired a new position in Penguin Solutions during the first quarter worth $3,259,000.

Penguin Solutions Stock Up 1.9%

NASDAQ PENG opened at $59.20 on Thursday. The business has a fifty day moving average price of $62.65 and a 200 day moving average price of $36.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.54. The company has a market cap of $3.03 billion, a P/E ratio of 41.99 and a beta of 2.83. Penguin Solutions has a one year low of $16.04 and a one year high of $89.86.

Penguin Solutions (NASDAQ:PENG) last announced its earnings results on Tuesday, July 7th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.21. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. The company had revenue of $478.71 million for the quarter, compared to analysts’ expectations of $407.47 million. During the same quarter in the previous year, the company posted $0.52 EPS. Research analysts anticipate that Penguin Solutions will post 2.08 EPS 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.