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

Penguin Solutions, Inc. (NASDAQ:PENG) has been given an average recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $27.25.

A number of brokerages recently commented on PENG. Needham & Company LLC upped their price target on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Wall Street Zen upgraded shares of Penguin Solutions from a “hold” rating to a “buy” rating in a research note on Sunday, May 17th. Zacks Research upgraded shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Rosenblatt Securities restated a “buy” rating and set a $30.00 price target on shares of Penguin Solutions in a research note on Monday, March 30th. Finally, Weiss Ratings cut shares of Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th.

Penguin Solutions Stock Up 3.3%

PENG opened at $54.95 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 2.10 and a debt-to-equity ratio of 1.09. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 76.32 and a beta of 2.66. Penguin Solutions has a twelve month low of $16.04 and a twelve month high of $55.65. The company’s 50-day moving average price is $30.14 and its two-hundred day moving average price is $23.40.

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 for the quarter, compared to analysts’ expectations of $339.00 million. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. As a group, equities analysts expect that Penguin Solutions will post 1.66 earnings per share for the current year.

Insider Activity at Penguin Solutions

In related news, Director Sandeep Nayyar sold 7,107 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $43.48, for a total transaction of $309,012.36. Following the sale, the director directly owned 25,417 shares in the company, valued at approximately $1,105,131.16. This represents a 21.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Joseph Gates Clark sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $39.99, for a total transaction of $199,950.00. Following the sale, the senior vice president owned 76,776 shares in the company, valued at $3,070,272.24. The trade was a 6.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 68,769 shares of company stock worth $2,473,051. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Penguin Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Penguin Solutions by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,592,564 shares of the company’s stock worth $173,253,000 after acquiring an additional 25,804 shares during the period. State Street Corp increased its holdings in Penguin Solutions by 3.2% during the 4th quarter. State Street Corp now owns 2,957,938 shares of the company’s stock worth $57,857,000 after acquiring an additional 91,805 shares during the period. Dimensional Fund Advisors LP increased its holdings in Penguin Solutions by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,388,748 shares of the company’s stock worth $46,726,000 after acquiring an additional 95,585 shares during the period. Invesco Ltd. increased its holdings in Penguin Solutions by 596.8% during the 4th quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock worth $38,972,000 after acquiring an additional 1,706,482 shares during the period. Finally, Paradigm Capital Management Inc. NY increased its holdings in Penguin Solutions by 73.8% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,605,100 shares of the company’s stock worth $28,250,000 after acquiring an additional 681,700 shares during the period.

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.