Penguin Solutions (NASDAQ:PENG) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Penguin Solutions (NASDAQ:PENG) from a hold rating to a buy rating in a report published on Sunday.

Several other analysts also recently weighed in on PENG. Weiss Ratings downgraded Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday. Stifel Nicolaus decreased their target price on Penguin Solutions from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Rosenblatt Securities restated a “buy” rating and set a $30.00 target price on shares of Penguin Solutions in a research note on Monday, March 30th. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Finally, Barclays downgraded Penguin Solutions from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $23.00 to $27.00 in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.25.

Penguin Solutions Price Performance

Shares of NASDAQ:PENG opened at $46.82 on Friday. The business has a 50 day moving average price of $25.71 and a 200 day moving average price of $22.04. Penguin Solutions has a twelve month low of $16.04 and a twelve month high of $53.27. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 65.03 and a beta of 2.66. 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 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 firm had revenue of $343.00 million during the quarter, compared to the consensus estimate of $339.00 million. Research analysts predict that Penguin Solutions will post 1.66 earnings per share for the current year.

Insider Transactions at Penguin Solutions

In other Penguin Solutions news, SVP Joseph Gates Clark sold 12,546 shares of the company’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 completion of the transaction, the senior vice president owned 99,726 shares of the company’s stock, valued at $2,248,821.30. This represents a 11.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Maximiliane C. Straub sold 8,000 shares of the company’s 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 directly owned 58,975 shares of the company’s stock, valued at approximately $2,653,875. This trade represents a 11.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 65,769 shares of company stock worth $2,326,051. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Penguin Solutions

Large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in Penguin Solutions by 187.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock valued at $28,000 after acquiring an additional 946 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Penguin Solutions in the 4th quarter valued at approximately $29,000. Raymond James Financial Inc. acquired a new position in Penguin Solutions in the 2nd quarter valued at approximately $37,000. Strs Ohio acquired a new position in Penguin Solutions in the 3rd quarter valued at approximately $42,000. Finally, Jones Financial Companies Lllp raised its holdings in Penguin Solutions by 4,131.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company’s stock valued at $45,000 after acquiring an additional 1,694 shares in the last quarter.

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.