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

Shares of Penguin Solutions, Inc. (NASDAQ:PENG) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $27.1250.

PENG has been the subject of several research analyst reports. Loop Capital upped their target price on Penguin Solutions from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Zacks Research downgraded shares of Penguin Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. JPMorgan Chase & Co. boosted their target price on shares of Penguin Solutions from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. JMP Securities reiterated a “market outperform” rating and set a $26.00 price objective on shares of Penguin Solutions in a research note on Wednesday, July 9th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $27.00 price objective on shares of Penguin Solutions in a research note on Monday, August 11th.

Insider Activity at Penguin Solutions

In other news, EVP Jack A. Pacheco sold 63,447 shares of the business’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $24.83, for a total transaction of $1,575,389.01. Following the transaction, the executive vice president directly owned 227,231 shares in the company, valued at $5,642,145.73. The trade was a 21.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Penny Herscher sold 2,046 shares of the business’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $25.42, for a total value of $52,009.32. Following the transaction, the director owned 18,222 shares in the company, valued at approximately $463,203.24. This represents a 10.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,175 shares of company stock worth $1,644,448. Insiders own 2.60% of the company’s stock.

Institutional Trading of Penguin Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new stake in Penguin Solutions in the first quarter valued at approximately $111,458,000. Alliancebernstein L.P. purchased a new stake in shares of Penguin Solutions during the first quarter worth $28,919,000. Paradigm Capital Management Inc. NY increased its position in shares of Penguin Solutions by 2.5% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,153,100 shares of the company’s stock worth $22,843,000 after acquiring an additional 27,900 shares during the period. JPMorgan Chase & Co. increased its position in shares of Penguin Solutions by 71.6% during the second quarter. JPMorgan Chase & Co. now owns 986,633 shares of the company’s stock worth $19,545,000 after acquiring an additional 411,527 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Penguin Solutions by 19.5% during the second quarter. American Century Companies Inc. now owns 956,715 shares of the company’s stock worth $18,953,000 after acquiring an additional 156,361 shares during the period.

Penguin Solutions Stock Up 5.3%

Penguin Solutions stock opened at $27.66 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.62 and a quick ratio of 2.24. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -98.78 and a beta of 2.13. Penguin Solutions has a 1-year low of $14.20 and a 1-year high of $27.88. The business has a fifty day moving average price of $24.48 and a 200-day moving average price of $20.47.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings data on Tuesday, July 8th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.17. Penguin Solutions had a positive return on equity of 13.27% and a negative net margin of 0.68%.The firm had revenue of $324.25 million during the quarter, compared to analysts’ expectations of $330.82 million. Penguin Solutions has set its FY 2025 guidance at 1.750-1.850 EPS. Equities research analysts forecast that Penguin Solutions will post 1.05 EPS 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.