Wall Street Zen Upgrades Penguin Solutions (NASDAQ:PENG) to “Strong-Buy”

Penguin Solutions (NASDAQ:PENG) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.

Several other equities research analysts also recently weighed in on PENG. The Goldman Sachs Group cut their price target on Penguin Solutions from $26.00 to $22.50 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Rosenblatt Securities restated a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a research report on Thursday, April 17th. JPMorgan Chase & Co. started coverage on shares of Penguin Solutions in a report on Monday, March 31st. They set a “neutral” rating and a $20.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $27.00 price target on shares of Penguin Solutions in a report on Thursday, April 3rd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $24.94.

Penguin Solutions Price Performance

Shares of NASDAQ:PENG opened at $17.64 on Thursday. Penguin Solutions has a twelve month low of $14.20 and a twelve month high of $22.67. The company has a current ratio of 2.33, a quick ratio of 1.75 and a debt-to-equity ratio of 1.61. The company has a market cap of $931.41 million, a PE ratio of -33.92 and a beta of 2.00. The company’s 50 day moving average is $17.45 and its 200 day moving average is $18.67.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings data on Wednesday, April 2nd. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.33 by $0.19. The business had revenue of $365.52 million for the quarter, compared to the consensus estimate of $344.44 million. Penguin Solutions had a negative net margin of 2.21% and a positive return on equity of 11.70%. The firm’s revenue for the quarter was up 28.3% compared to the same quarter last year. On average, sell-side analysts forecast that Penguin Solutions will post 1.05 EPS for the current year.

Insider Activity

In other Penguin Solutions news, EVP Jack A. Pacheco sold 3,219 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $20.00, for a total transaction of $64,380.00. Following the completion of the transaction, the executive vice president now directly owns 231,548 shares in the company, valued at approximately $4,630,960. This represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Penguin Solutions

Large investors have recently added to or reduced their stakes in the stock. Crews Bank & Trust acquired a new position in Penguin Solutions during the first quarter worth $28,000. IFP Advisors Inc acquired a new position in Penguin Solutions during the first quarter worth $39,000. CWM LLC acquired a new position in Penguin Solutions during the first quarter worth $39,000. Virtus Advisers LLC acquired a new position in Penguin Solutions during the first quarter worth $43,000. Finally, PNC Financial Services Group Inc. acquired a new position in Penguin Solutions during the first quarter worth $62,000.

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.