Brokerages Set Penguin Solutions, Inc. (NASDAQ:PENG) PT at $57.71

Shares of Penguin Solutions, Inc. (NASDAQ:PENG) have been given a consensus rating of “Moderate Buy” by the nine ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $63.3333.

PENG has been the topic of several research reports. Stifel Nicolaus increased their price target on shares of Penguin Solutions from $66.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Barclays increased their target price on Penguin Solutions from $27.00 to $40.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Citizens Jmp boosted their target price on Penguin Solutions from $65.00 to $85.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. Finally, Rosenblatt Securities boosted their target price on shares of Penguin Solutions from $65.00 to $75.00 and gave the company a “buy” rating in a report on Monday, July 6th.

Penguin Solutions Price Performance

Shares of PENG opened at $60.41 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.54. The stock has a market capitalization of $3.10 billion, a PE ratio of 42.84 and a beta of 2.83. The company has a 50 day moving average price of $61.96 and a 200-day moving average price of $35.61. Penguin Solutions has a fifty-two week low of $16.04 and a fifty-two week high of $89.86.

Penguin Solutions (NASDAQ:PENG) last posted its earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.21. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. The company had revenue of $478.71 million during the quarter, compared to analysts’ expectations of $407.47 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. Equities analysts predict that Penguin Solutions will post 2.08 earnings per share for the current fiscal year.

Insider Activity at Penguin Solutions

In other Penguin Solutions news, SVP Anne Kuykendall sold 4,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $64.38, for a total transaction of $257,520.00. Following the completion of the transaction, the senior vice president owned 120,794 shares of the company’s stock, valued at $7,776,717.72. This trade represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Maximiliane C. Straub sold 3,000 shares of Penguin Solutions stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the sale, the director owned 51,975 shares of the company’s stock, valued at approximately $2,546,775. This represents a 5.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 65,574 shares of company stock valued at $3,069,722 in the last quarter. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in shares of Penguin Solutions by 187.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock valued at $28,000 after buying an additional 946 shares during the period. Kestra Advisory Services LLC acquired a new position in Penguin Solutions during the 4th quarter worth about $29,000. Allworth Financial LP boosted its holdings in Penguin Solutions by 41.4% during the 3rd quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock valued at $47,000 after acquiring an additional 525 shares during the period. Raymond James Financial Inc. purchased a new position in Penguin Solutions during the 2nd quarter valued at about $37,000. Finally, Advisory Services Network LLC acquired a new position in Penguin Solutions in the 3rd quarter valued at about $50,000.

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.