Penguin Solutions (NASDAQ:PENG) Downgraded to “Buy” Rating by Wall Street Zen

Penguin Solutions (NASDAQ:PENG) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Sunday.

PENG has been the topic of a number of other reports. Citizens Jmp increased 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 downgraded shares of Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 target price for the company. in a research note on Monday, July 20th. Needham & Company LLC lifted their price target on shares of Penguin Solutions from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Citigroup reissued an “outperform” rating on shares of Penguin Solutions in a research report on Wednesday, July 8th. Finally, Weiss Ratings upgraded shares of Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $63.33.

Penguin Solutions Stock Performance

PENG stock opened at $53.85 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 has a market cap of $2.76 billion, a P/E ratio of 38.19 and a beta of 2.83. The business’s fifty day moving average is $62.97 and its 200-day moving average is $36.89.

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

Insider Transactions at Penguin Solutions

In other news, SVP Joseph Gates Clark sold 10,351 shares of Penguin Solutions stock in a transaction that occurred 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 sale, the senior vice president directly 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $45.09, for a total transaction of $581,345.37. Following the completion of the sale, the director directly owned 32,524 shares in the company, valued at approximately $1,466,507.16. This represents a 28.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 58,351 shares of company stock worth $2,859,351. Insiders own 2.90% of the company’s stock.

Institutional Trading of Penguin Solutions

Several institutional investors and hedge funds have recently bought and sold shares of PENG. Farther Finance Advisors LLC boosted its position in Penguin Solutions by 187.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock valued at $28,000 after purchasing an additional 946 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Penguin Solutions during the 4th quarter worth approximately $29,000. Raymond James Financial Inc. bought a new stake in shares of Penguin Solutions during the 2nd quarter worth approximately $37,000. Allworth Financial LP raised its stake in shares of Penguin Solutions by 41.4% during the 3rd quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock worth $47,000 after purchasing an additional 525 shares in the last quarter. Finally, Torren Management LLC acquired a new stake in shares of Penguin Solutions in the 4th quarter valued at approximately $48,000.

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.