Wall Street Zen Upgrades Penguin Solutions (NASDAQ:PENG) to “Strong-Buy”

Penguin Solutions (NASDAQ:PENG) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts also recently issued reports on the company. Weiss Ratings upgraded Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 8th. Rosenblatt Securities upped their price objective on Penguin Solutions from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Citizens Jmp increased their target price on Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a report on Wednesday, July 8th. Citigroup reissued an “outperform” rating on shares of Penguin Solutions in a research report on Wednesday, July 8th. Finally, Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Penguin Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $63.33.

Penguin Solutions Stock Down 8.4%

Shares of Penguin Solutions stock opened at $60.41 on Friday. Penguin Solutions has a twelve month low of $16.04 and a twelve month high of $89.86. The company has a quick ratio of 1.10, a current ratio of 1.54 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $61.96 and its 200 day moving average is $35.61. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 42.84 and a beta of 2.83.

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

Insider Buying and Selling

In related news, SVP Anne Kuykendall sold 4,000 shares of Penguin Solutions stock in a transaction on Monday, June 15th. The stock was sold at an average price of $64.38, for a total transaction of $257,520.00. Following the transaction, the senior vice president directly owned 120,794 shares in the company, valued at approximately $7,776,717.72. The trade was a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Gates Clark sold 10,351 shares of Penguin Solutions stock in a transaction on Monday, June 1st. The shares were sold at an average price of $58.87, for a total value of $609,363.37. Following the transaction, the senior vice president owned 66,425 shares in the company, valued at $3,910,439.75. This trade represents a 13.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 65,574 shares of company stock valued at $3,069,722. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. State Street Corp grew its stake in shares of Penguin Solutions by 3.2% during the 4th quarter. State Street Corp now owns 2,957,938 shares of the company’s stock valued at $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% in 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 in the last quarter. Invesco Ltd. raised its stake 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. Paradigm Capital Management Inc. NY raised its stake 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. Finally, Ophir Asset Management Pty Ltd lifted its holdings in Penguin Solutions by 234.3% during the fourth quarter. Ophir Asset Management Pty Ltd now owns 1,211,612 shares of the company’s stock valued at $23,699,000 after purchasing an additional 849,178 shares in the last quarter.

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.