Penguin Solutions (NASDAQ:PENG) Receives $24.94 Consensus PT from Analysts

Penguin Solutions (NASDAQ:PENG) has received an average recommendation of “Buy” from the nine analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $24.94.

Several equities research analysts have commented on PENG shares. Needham & Company LLC restated a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a research report on Thursday, April 3rd. The Goldman Sachs Group dropped their price target on shares of Penguin Solutions from $26.00 to $22.50 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Wall Street Zen upgraded shares of Penguin Solutions from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. began coverage on Penguin Solutions in a report on Monday, March 31st. They issued a “neutral” rating and a $20.00 price target for the company. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a report on Thursday, April 17th.

Insider Buying and Selling

In other news, EVP Jack A. Pacheco sold 3,219 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $20.00, for a total value of $64,380.00. Following the transaction, the executive vice president now owns 231,548 shares in the company, valued at $4,630,960. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Penguin Solutions

A number of large investors have recently modified their holdings of the business. South Dakota Investment Council purchased a new stake in shares of Penguin Solutions in the first quarter valued at approximately $1,143,000. Louisiana State Employees Retirement System purchased a new stake in Penguin Solutions in the 1st quarter valued at $436,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Penguin Solutions in the 1st quarter worth $1,900,000. Foundry Partners LLC acquired a new stake in shares of Penguin Solutions in the 1st quarter worth $11,989,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Penguin Solutions during the 1st quarter worth $4,608,000.

Penguin Solutions Trading Down 3.8%

NASDAQ PENG opened at $19.28 on Wednesday. Penguin Solutions has a 1 year low of $14.20 and a 1 year high of $22.67. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.33 and a quick ratio of 1.75. The company has a market capitalization of $1.02 billion, a PE ratio of -37.08 and a beta of 1.97. The company has a fifty day moving average of $17.82 and a 200 day moving average of $18.84.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings data on Wednesday, April 2nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.19. The business had revenue of $365.52 million during the quarter, compared to analysts’ expectations of $344.44 million. Penguin Solutions had a positive return on equity of 11.70% and a negative net margin of 2.21%. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. Research analysts forecast that Penguin Solutions will post 1.05 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.