Penguin Solutions (NASDAQ:PENG) Upgraded at Zacks Research

Penguin Solutions (NASDAQ:PENG) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

PENG has been the subject of a number of other reports. Needham & Company LLC upped their price objective on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Stifel Nicolaus lowered their price objective on shares of Penguin Solutions from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Weiss Ratings raised shares of Penguin Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. The Goldman Sachs Group initiated coverage on shares of Penguin Solutions in a research note on Tuesday, January 13th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Wall Street Zen raised shares of Penguin Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.29.

Penguin Solutions Trading Up 7.2%

NASDAQ PENG opened at $22.12 on Tuesday. The company’s 50-day moving average price is $18.86 and its 200-day moving average price is $20.57. The company has a current ratio of 2.10, a quick ratio of 1.86 and a debt-to-equity ratio of 1.09. The stock has a market cap of $1.12 billion, a PE ratio of 30.72 and a beta of 2.23. Penguin Solutions has a 12 month low of $14.42 and a 12 month high of $29.80.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The firm had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $339.00 million. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. Equities research analysts forecast that Penguin Solutions will post 1.05 earnings per share for the current year.

Insider Transactions at Penguin Solutions

In other Penguin Solutions news, SVP Joseph Gates Clark sold 1,346 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $19.03, for a total transaction of $25,614.38. Following the completion of the sale, the senior vice president directly owned 122,318 shares of the company’s stock, valued at approximately $2,327,711.54. This represents a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Anne Kuykendall sold 4,000 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $17.75, for a total transaction of $71,000.00. Following the sale, the senior vice president directly owned 131,352 shares of the company’s stock, valued at approximately $2,331,498. The trade was a 2.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Penguin Solutions

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Penguin Solutions by 0.4% during the third quarter. Vanguard Group Inc. now owns 6,592,564 shares of the company’s stock valued at $173,253,000 after buying an additional 25,804 shares during the last quarter. State Street Corp lifted its position in shares of Penguin Solutions by 3.2% during the fourth quarter. State Street Corp now owns 2,957,938 shares of the company’s stock valued at $57,857,000 after buying an additional 91,805 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Penguin Solutions by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,388,748 shares of the company’s stock valued at $46,726,000 after buying an additional 95,585 shares during the last quarter. Invesco Ltd. lifted its position in shares of Penguin Solutions by 596.8% during the fourth quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock valued at $38,972,000 after buying an additional 1,706,482 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Penguin Solutions by 35.3% during the third quarter. American Century Companies Inc. now owns 1,294,279 shares of the company’s stock valued at $34,014,000 after buying an additional 337,564 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.