Penguin Solutions (NASDAQ:PENG) Given New $31.00 Price Target at Stifel Nicolaus

Penguin Solutions (NASDAQ:PENG) had its target price upped by Stifel Nicolaus from $27.00 to $31.00 in a research report report published on Monday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Penguin Solutions from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Penguin Solutions in a research note on Saturday, September 27th. Zacks Research lowered shares of Penguin Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Loop Capital increased their price objective on Penguin Solutions from $30.00 to $35.00 and gave the company a “buy” rating in a report on Monday, July 14th. Finally, Wall Street Zen lowered Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.75.

Penguin Solutions Stock Up 5.6%

Shares of PENG opened at $29.30 on Monday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.24 and a current ratio of 2.62. Penguin Solutions has a 52 week low of $14.20 and a 52 week high of $29.60. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -104.64 and a beta of 2.20. The stock has a fifty day moving average of $25.08 and a 200-day moving average of $21.26.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings data on Tuesday, July 8th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.17. The business had revenue of $324.25 million for 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%. As a group, sell-side analysts anticipate that Penguin Solutions will post 1.05 earnings per share for the current fiscal year.

Insider Transactions at Penguin Solutions

In other news, Director Penny Herscher sold 2,046 shares of Penguin Solutions stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $25.42, for a total value of $52,009.32. Following the completion of the transaction, the director directly owned 18,222 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, EVP Jack A. Pacheco sold 63,447 shares of the business’s stock in a transaction dated Monday, July 21st. The shares were 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 directly owned 227,231 shares in the company, valued at $5,642,145.73. This represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,175 shares of company stock valued at $1,644,448. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Penguin Solutions

Several large investors have recently modified their holdings of the stock. New York State Teachers Retirement System acquired a new position in shares of Penguin Solutions during the 1st quarter valued at $248,000. Allspring Global Investments Holdings LLC bought a new stake in Penguin Solutions in the first quarter valued at $779,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Penguin Solutions during the first quarter valued at about $188,000. Principal Financial Group Inc. bought a new position in shares of Penguin Solutions during the 1st quarter worth about $4,608,000. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Penguin Solutions during the 1st quarter worth about $14,786,000.

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.