Penguin Solutions (NASDAQ:PENG) Cut to Hold at Zacks Research

Zacks Research cut shares of Penguin Solutions (NASDAQ:PENG) from a strong-buy rating to a hold rating in a report published on Monday,Zacks.com reports.

Several other analysts also recently issued reports on PENG. Rosenblatt Securities restated a “buy” rating and issued a $27.00 price target on shares of Penguin Solutions in a research note on Monday, August 11th. Wall Street Zen downgraded Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. Needham & Company LLC boosted their price target on Penguin Solutions from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. JMP Securities reiterated a “market outperform” rating and set a $26.00 target price on shares of Penguin Solutions in a research report on Wednesday, July 9th. Finally, The Goldman Sachs Group upped their target price on Penguin Solutions from $22.50 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $27.13.

Penguin Solutions Stock Performance

PENG opened at $25.64 on Monday. The business has a fifty day simple moving average of $23.94 and a 200 day simple moving average of $20.21. The company has a market capitalization of $1.34 billion, a PE ratio of -91.57 and a beta of 2.13. Penguin Solutions has a 1 year low of $14.20 and a 1 year high of $26.16. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.62 and a quick ratio of 2.24.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings results on Tuesday, July 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.17. The business had revenue of $324.25 million during the quarter, compared to the consensus estimate of $330.82 million. Penguin Solutions had a positive return on equity of 13.27% and a negative net margin of 0.68%. Penguin Solutions has set its FY 2025 guidance at 1.750-1.850 EPS. Research analysts expect that Penguin Solutions will post 1.05 EPS for the current year.

Insider Buying and Selling at Penguin Solutions

In related news, EVP Jack A. Pacheco sold 63,447 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 227,231 shares in the company, valued at $5,642,145.73. This represents a 21.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Penny Herscher sold 2,046 shares of the company’s stock in a transaction 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 sale, the director owned 18,222 shares of the company’s stock, 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 valued at $1,644,448. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Penguin Solutions

Several institutional investors and hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. lifted its position in shares of Penguin Solutions by 20.8% during the 2nd quarter. Osaic Holdings Inc. now owns 3,583 shares of the company’s stock worth $71,000 after buying an additional 617 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Penguin Solutions by 6.2% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,545 shares of the company’s stock worth $268,000 after buying an additional 792 shares during the last quarter. Inspire Investing LLC lifted its position in shares of Penguin Solutions by 3.6% during the 2nd quarter. Inspire Investing LLC now owns 24,293 shares of the company’s stock worth $481,000 after buying an additional 835 shares during the last quarter. Crews Bank & Trust bought a new stake in shares of Penguin Solutions during the 1st quarter worth $28,000. Finally, CWM LLC lifted its position in shares of Penguin Solutions by 82.1% during the 2nd quarter. CWM LLC now owns 4,111 shares of the company’s stock worth $81,000 after buying an additional 1,854 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.