Penguin Solutions (NASDAQ:PENG) Earns Buy Rating from Rosenblatt Securities

Penguin Solutions (NASDAQ:PENG)‘s stock had its “buy” rating reissued by research analysts at Rosenblatt Securities in a report released on Tuesday,Benzinga reports. They currently have a $30.00 price target on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 32.45% from the stock’s previous close.

Several other equities analysts have also recently commented on PENG. JMP Securities reissued a “market outperform” rating and set a $26.00 target price on shares of Penguin Solutions in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on Penguin Solutions from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Stifel Nicolaus boosted their price objective on Penguin Solutions from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Zacks Research downgraded Penguin Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Needham & Company LLC raised their target price on Penguin Solutions from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Penguin Solutions Stock Up 0.4%

PENG opened at $22.65 on Tuesday. Penguin Solutions has a fifty-two week low of $14.20 and a fifty-two week high of $29.80. The firm has a market capitalization of $1.19 billion, a P/E ratio of 78.11 and a beta of 2.20. The company’s 50-day moving average is $25.00 and its 200 day moving average is $21.43. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.25 and a quick ratio of 1.71.

Insider Activity

In other Penguin Solutions news, EVP Jack A. Pacheco sold 63,447 shares of the business’s 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 sale, the executive vice president directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Penguin Solutions

Several large investors have recently added to or reduced their stakes in PENG. CWM LLC lifted its holdings in Penguin Solutions by 189.9% during the third quarter. CWM LLC now owns 11,916 shares of the company’s stock valued at $314,000 after purchasing an additional 7,805 shares during the last quarter. Vontobel Holding Ltd. bought a new stake in shares of Penguin Solutions in the third quarter valued at approximately $382,000. Texas Permanent School Fund Corp boosted its holdings in Penguin Solutions by 28.4% in the 2nd quarter. Texas Permanent School Fund Corp now owns 30,923 shares of the company’s stock worth $613,000 after buying an additional 6,841 shares during the period. Osaic Holdings Inc. grew its stake in Penguin Solutions by 20.8% in the 2nd quarter. Osaic Holdings Inc. now owns 3,583 shares of the company’s stock valued at $71,000 after buying an additional 617 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Penguin Solutions by 6.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 179,843 shares of the company’s stock valued at $3,563,000 after acquiring an additional 10,874 shares during the period.

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.