Penguin Solutions (NASDAQ:PENG) Price Target Raised to $36.00 at Rosenblatt Securities

Penguin Solutions (NASDAQ:PENG) had its target price lifted by Rosenblatt Securities from $27.00 to $36.00 in a report released on Wednesday,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

A number of other brokerages have also commented on PENG. JMP Securities reissued a “market outperform” rating and set a $26.00 price target on shares of Penguin Solutions in a report on Wednesday, July 9th. Wall Street Zen downgraded shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. Zacks Research lowered shares of Penguin Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Loop Capital raised their price objective on shares of Penguin Solutions from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Finally, Needham & Company LLC boosted their target price on Penguin Solutions from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.25.

Penguin Solutions Price Performance

Shares of NASDAQ:PENG opened at $27.07 on Wednesday. The firm’s 50 day moving average is $24.90 and its two-hundred day moving average is $21.05. The firm has a market capitalization of $1.42 billion, a P/E ratio of -96.68 and a beta of 2.20. The company has a current ratio of 2.62, a quick ratio of 2.24 and a debt-to-equity ratio of 1.08. Penguin Solutions has a 52 week low of $14.20 and a 52 week high of $28.20.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings data on Tuesday, July 8th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.17. The business had revenue of $324.25 million during the quarter, compared to analyst estimates 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. Analysts anticipate that Penguin Solutions will post 1.05 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Penny Herscher sold 2,046 shares of the firm’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $25.42, for a total transaction of $52,009.32. Following the completion of the sale, the director directly owned 18,222 shares of the company’s stock, valued at $463,203.24. This trade represents a 10.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jack A. Pacheco sold 63,447 shares of Penguin Solutions stock in a transaction on Monday, July 21st. The stock was sold at an average price of $24.83, for a total value of $1,575,389.01. Following the completion of the transaction, the executive vice president owned 227,231 shares in the company, valued at $5,642,145.73. The trade was a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,175 shares of company stock valued at $1,644,448 over the last 90 days. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Penguin Solutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. Crews Bank & Trust acquired a new stake in Penguin Solutions during the 1st quarter worth about $28,000. Raymond James Financial Inc. acquired a new stake in shares of Penguin Solutions during the second quarter valued at approximately $37,000. IFP Advisors Inc purchased a new stake in shares of Penguin Solutions in the 1st quarter valued at approximately $39,000. CWM LLC acquired a new position in Penguin Solutions in the 1st quarter worth approximately $39,000. Finally, Virtus Advisers LLC purchased a new position in Penguin Solutions during the 1st quarter worth approximately $43,000.

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.