Penguin Solutions (NASDAQ:PENG) Given Consensus Rating of “Buy” by Analysts

Shares of Penguin Solutions (NASDAQ:PENG) have received a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $24.94.

A number of research firms have weighed in on PENG. JPMorgan Chase & Co. began coverage on shares of Penguin Solutions in a research report on Monday, March 31st. They set a “neutral” rating and a $20.00 target price for the company. Rosenblatt Securities restated a “buy” rating and set a $27.00 target price on shares of Penguin Solutions in a research note on Thursday, April 17th. Wall Street Zen raised Penguin Solutions from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. The Goldman Sachs Group cut their price target on Penguin Solutions from $26.00 to $22.50 and set a “buy” rating for the company in a report on Thursday, April 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $27.00 price target on shares of Penguin Solutions in a research note on Thursday, April 3rd.

Insider Transactions at Penguin Solutions

In other news, EVP Jack A. Pacheco sold 3,219 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 231,548 shares of the company’s stock, valued at approximately $4,630,960. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Penguin Solutions

Institutional investors and hedge funds have recently bought and sold shares of the business. Crews Bank & Trust bought a new stake in Penguin Solutions during the 1st quarter worth about $28,000. IFP Advisors Inc bought a new position in Penguin Solutions in the 1st quarter worth approximately $39,000. CWM LLC bought a new position in Penguin Solutions in the 1st quarter worth approximately $39,000. Virtus Advisers LLC acquired a new position in Penguin Solutions during the 1st quarter worth $43,000. Finally, PNC Financial Services Group Inc. bought a new stake in Penguin Solutions during the 1st quarter worth about $62,000.

Penguin Solutions Stock Up 0.7%

PENG opened at $20.01 on Wednesday. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.33 and a quick ratio of 1.75. Penguin Solutions has a fifty-two week low of $14.20 and a fifty-two week high of $22.67. The business has a 50-day moving average of $17.52 and a 200-day moving average of $18.80. The company has a market capitalization of $1.06 billion, a PE ratio of -38.48 and a beta of 1.97.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings results on Wednesday, April 2nd. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.19. Penguin Solutions had a positive return on equity of 11.70% and a negative net margin of 2.21%. The company had revenue of $365.52 million during the quarter, compared to the consensus estimate of $344.44 million. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. Equities research analysts forecast that Penguin Solutions will post 1.05 EPS 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.