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

Shares of Penguin Solutions, Inc. (NASDAQ:PENG) have received a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $27.25.

PENG has been the topic of a number of analyst reports. Wall Street Zen raised shares of Penguin Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. The Goldman Sachs Group began coverage on shares of Penguin Solutions in a research note on Tuesday, January 13th. They issued a “buy” rating and a $25.00 target price for the company. Stifel Nicolaus dropped their price target on shares of Penguin Solutions from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Needham & Company LLC lifted their price objective on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Finally, Weiss Ratings upgraded shares of Penguin Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, April 6th.

Insider Activity

In other Penguin Solutions news, SVP Joseph Gates Clark sold 12,546 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $22.55, for a total value of $282,912.30. Following the sale, the senior vice president directly owned 99,726 shares of the company’s stock, valued at approximately $2,248,821.30. This trade represents a 11.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $17.75, for a total value of $71,000.00. Following the completion of the sale, the senior vice president owned 131,352 shares of the company’s stock, valued at $2,331,498. This trade represents a 2.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 30,115 shares of company stock valued at $723,997. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Penguin Solutions

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP purchased a new stake in Penguin Solutions in the 3rd quarter worth $60,264,000. Invesco Ltd. lifted its holdings in Penguin Solutions by 596.8% during the fourth quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock valued at $38,972,000 after purchasing an additional 1,706,482 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Penguin Solutions in the fourth quarter valued at about $18,290,000. Ophir Asset Management Pty Ltd grew its position in shares of Penguin Solutions by 234.3% in 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 during the period. Finally, ArrowMark Colorado Holdings LLC purchased a new stake in shares of Penguin Solutions during the third quarter worth about $15,789,000.

Penguin Solutions Stock Up 2.7%

Shares of PENG opened at $31.24 on Friday. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 43.39 and a beta of 2.65. Penguin Solutions has a 52 week low of $16.04 and a 52 week high of $31.30. The stock’s 50-day moving average price is $21.47 and its 200-day moving average price is $20.71. The company has a quick ratio of 1.55, a current ratio of 2.10 and a debt-to-equity ratio of 1.09.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $339.00 million. On average, sell-side analysts predict that Penguin Solutions will post 1.66 EPS for the current 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.