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

Penguin Solutions, Inc. (NASDAQ:PENG) has been given a consensus rating of “Moderate Buy” by the nine research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $63.3333.

A number of research firms recently weighed in on PENG. Citigroup reaffirmed an “outperform” rating on shares of Penguin Solutions in a research report on Wednesday, July 8th. Barclays downgraded shares of Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 price objective for the company. in a research note on Monday, July 20th. Wall Street Zen cut Penguin Solutions from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Rosenblatt Securities upped their target price on Penguin Solutions from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Finally, Zacks Research raised Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th.

Penguin Solutions Stock Performance

NASDAQ:PENG opened at $58.43 on Monday. The company has a market cap of $2.99 billion, a P/E ratio of 41.44 and a beta of 2.87. Penguin Solutions has a twelve month low of $16.04 and a twelve month high of $89.86. The business has a 50 day moving average price of $63.27 and a two-hundred day moving average price of $39.33. 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 posted its quarterly earnings data on Tuesday, July 7th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.21. The company had revenue of $478.71 million for the quarter, compared to the consensus estimate 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 last year, the company earned $0.52 earnings per share. As a group, analysts expect that Penguin Solutions will post 2.08 EPS for the current fiscal year.

Insider Activity

In other Penguin Solutions news, Director Sandeep Nayyar sold 7,107 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $43.48, for a total value of $309,012.36. Following the completion of the sale, the director owned 25,417 shares in the company, valued at $1,105,131.16. This trade represents a 21.85% 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, SVP Joseph Gates Clark sold 10,351 shares of Penguin Solutions stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $58.87, for a total transaction of $609,363.37. Following the completion of the transaction, the senior vice president directly owned 66,425 shares of the company’s stock, valued at approximately $3,910,439.75. This trade represents a 13.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 33,785 shares of company stock valued at $1,794,318 over the last three months. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Penguin Solutions

Several hedge funds have recently bought and sold shares of PENG. William Blair Investment Management LLC bought a new position in shares of Penguin Solutions during the 4th quarter worth approximately $18,290,000. Maverick Capital Ltd. acquired a new stake in Penguin Solutions during the 1st quarter valued at $771,000. Fisher Asset Management LLC acquired a new stake in Penguin Solutions during the 4th quarter valued at $716,000. Pacer Advisors Inc. boosted its position in Penguin Solutions by 34.0% during the first quarter. Pacer Advisors Inc. now owns 261,776 shares of the company’s stock worth $4,607,000 after purchasing an additional 66,460 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in shares of Penguin Solutions by 98.3% in the fourth quarter. State of Alaska Department of Revenue now owns 47,576 shares of the company’s stock valued at $930,000 after purchasing an additional 23,582 shares during 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.