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

Penguin Solutions, Inc. (NASDAQ:PENG) has earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $36.8750.

PENG has been the topic of several analyst reports. Barclays cut Penguin Solutions from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $23.00 to $27.00 in a research note on Wednesday, April 22nd. Zacks Research cut Penguin Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Wall Street Zen raised Penguin Solutions from a “hold” rating to a “buy” rating in a research note on Sunday, May 17th. Rosenblatt Securities boosted their price objective on Penguin Solutions from $54.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Finally, Needham & Company LLC boosted their price objective on Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd.

Insider Buying and Selling

In other Penguin Solutions news, Director Maximiliane C. Straub sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $49.00, for a total transaction of $147,000.00. Following the sale, the director directly owned 51,975 shares of the company’s stock, valued at $2,546,775. The trade was a 5.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sandeep Nayyar sold 7,107 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $43.48, for a total value of $309,012.36. Following the sale, the director directly owned 25,417 shares in the company, valued at $1,105,131.16. The trade was a 21.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 83,120 shares of company stock valued at $3,486,734. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Penguin Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the business. Pacer Advisors Inc. raised its holdings in shares of Penguin Solutions by 34.0% in the first quarter. Pacer Advisors Inc. now owns 261,776 shares of the company’s stock worth $4,607,000 after buying an additional 66,460 shares during the period. California State Teachers Retirement System raised its holdings in shares of Penguin Solutions by 52.8% in the first quarter. California State Teachers Retirement System now owns 74,580 shares of the company’s stock worth $1,313,000 after buying an additional 25,763 shares during the period. Maverick Capital Ltd. purchased a new stake in shares of Penguin Solutions in the first quarter worth approximately $771,000. Quantinno Capital Management LP raised its holdings in shares of Penguin Solutions by 16.6% in the first quarter. Quantinno Capital Management LP now owns 28,318 shares of the company’s stock worth $498,000 after buying an additional 4,036 shares during the period. Finally, Paradigm Capital Management Inc. NY raised its holdings in shares of Penguin Solutions by 73.8% in the first quarter. Paradigm Capital Management Inc. NY now owns 1,605,100 shares of the company’s stock worth $28,250,000 after buying an additional 681,700 shares during the period.

Penguin Solutions Price Performance

NASDAQ:PENG opened at $67.15 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.55 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $3.41 billion, a P/E ratio of 93.26 and a beta of 2.89. Penguin Solutions has a 12 month low of $16.04 and a 12 month high of $73.24. The business’s 50-day moving average is $46.05 and its 200 day moving average is $28.80.

Penguin Solutions (NASDAQ:PENG) last posted its earnings results on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%.The company had revenue of $343.00 million for the quarter, compared to the consensus estimate of $339.00 million. On average, equities research analysts forecast that Penguin Solutions will post 1.79 earnings per share for the current fiscal year.

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.