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

Penguin Solutions, Inc. (NASDAQ:PENG) has been given an average rating of “Moderate Buy” by the ten ratings firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $57.7143.

Several analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Wall Street Zen upgraded Penguin Solutions from a “hold” rating to a “buy” rating in a report on Sunday, May 17th. Needham & Company LLC increased their price target on Penguin Solutions from $60.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Finally, Citizens Jmp increased their price target on Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a report on Wednesday, July 8th.

Insider Buying and Selling

In other Penguin Solutions news, SVP Anne Kuykendall sold 4,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $64.38, for a total value of $257,520.00. Following the completion of the sale, the senior vice president directly owned 120,794 shares of the company’s stock, valued at $7,776,717.72. This trade represents a 3.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Maximiliane C. Straub sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the transaction, the director directly owned 51,975 shares in the company, valued at approximately $2,546,775. The trade was a 5.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 65,574 shares of company stock valued at $3,069,722 over the last 90 days. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Penguin Solutions

Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada purchased a new stake in shares of Penguin Solutions in the 1st quarter valued at approximately $7,250,000. Amundi acquired a new position in Penguin Solutions in the first quarter valued at approximately $373,000. AQR Capital Management LLC acquired a new position in Penguin Solutions in the first quarter valued at approximately $1,076,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Penguin Solutions in the first quarter worth approximately $538,000. Finally, Goldman Sachs Group Inc. purchased a new position in Penguin Solutions in the first quarter worth approximately $3,259,000.

Penguin Solutions Trading Down 6.4%

Shares of PENG opened at $72.85 on Thursday. Penguin Solutions has a 52-week low of $16.04 and a 52-week high of $89.86. The stock has a market cap of $3.73 billion, a PE ratio of 51.67 and a beta of 2.83. The firm’s fifty day moving average is $61.09 and its two-hundred day moving average is $35.11. The company has a quick ratio of 1.10, a current ratio of 1.54 and a debt-to-equity ratio of 0.65.

Penguin Solutions (NASDAQ:PENG) last issued its earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.21. The business had revenue of $478.71 million during the quarter, compared to analysts’ expectations of $407.47 million. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. During the same period in the prior year, the business earned $0.52 earnings per share. Research analysts forecast that Penguin Solutions will post 2.08 earnings per share for the current fiscal 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.