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

Shares of Penguin Solutions, Inc. (NASDAQ:PENG) have been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $63.3333.

Several analysts have recently issued reports on the stock. Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Rosenblatt Securities increased their target price on shares of Penguin Solutions from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Citizens Jmp raised their price target on shares of Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 8th. Barclays lowered Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 price objective on the stock. in a research report on Monday. Finally, Weiss Ratings upgraded Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th.

Insider Buying and Selling

In related news, Director Maximiliane C. Straub sold 8,000 shares of Penguin Solutions stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the transaction, the director owned 58,975 shares in the company, valued at $2,653,875. The trade was a 11.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Anne Kuykendall sold 4,000 shares of the business’s stock in a transaction that occurred 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 owned 120,794 shares of the company’s stock, valued at $7,776,717.72. This trade represents a 3.21% 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. Over the last quarter, insiders have sold 65,574 shares of company stock worth $3,069,722. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Penguin Solutions

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

Penguin Solutions Trading Down 11.9%

Shares of NASDAQ PENG opened at $53.23 on Thursday. Penguin Solutions has a twelve month low of $16.04 and a twelve month high of $89.86. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.65. The stock has a fifty day simple moving average of $62.15 and a 200-day simple moving average of $35.95. The stock has a market capitalization of $2.73 billion, a PE ratio of 37.75 and a beta of 2.83.

Penguin Solutions (NASDAQ:PENG) last posted 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. The firm had revenue of $478.71 million for the quarter, compared to analyst estimates of $407.47 million. Penguin Solutions had a return on equity of 28.23% and a net margin of 6.44%.During the same quarter in the prior year, the company earned $0.52 EPS. On average, equities analysts forecast that Penguin Solutions will post 2.08 earnings per share for the current 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.