Analysts Set Penguin Solutions, Inc. (NASDAQ:PENG) Target Price at $27.25

Penguin Solutions, Inc. (NASDAQ:PENG) has received an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $27.25.

A number of brokerages have weighed in on PENG. Stifel Nicolaus dropped their target price 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 downgraded shares of Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Barclays downgraded shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $23.00 to $27.00 in a research note on Wednesday, April 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $30.00 target price on shares of Penguin Solutions in a research note on Monday, March 30th. Finally, Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th.

Penguin Solutions Price Performance

NASDAQ:PENG opened at $55.83 on Wednesday. The firm has a market cap of $2.83 billion, a PE ratio of 77.54 and a beta of 2.88. Penguin Solutions has a 12 month low of $16.04 and a 12 month high of $60.87. The company has a quick ratio of 1.55, a current ratio of 2.10 and a debt-to-equity ratio of 1.09. The company’s 50-day moving average price is $32.37 and its two-hundred day moving average price is $24.09.

Penguin Solutions (NASDAQ:PENG) last announced its earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. The company had revenue of $343.00 million during the quarter, compared to the consensus estimate of $339.00 million. On average, equities analysts anticipate that Penguin Solutions will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling at Penguin Solutions

In related news, SVP Joseph Gates Clark sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $39.99, for a total transaction of $199,950.00. Following the completion of the sale, the senior vice president directly owned 76,776 shares of the company’s stock, valued at $3,070,272.24. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Maximiliane C. Straub sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $49.00, for a total transaction of $147,000.00. Following the sale, the director directly owned 51,975 shares of the company’s stock, valued at approximately $2,546,775. This trade represents a 5.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 72,769 shares of company stock valued at $2,690,851. 2.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Penguin Solutions

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC raised its stake in shares of Penguin Solutions by 187.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock worth $28,000 after buying an additional 946 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Penguin Solutions during the fourth quarter worth approximately $29,000. Raymond James Financial Inc. bought a new stake in shares of Penguin Solutions during the second quarter worth approximately $37,000. Strs Ohio bought a new stake in shares of Penguin Solutions during the third quarter worth approximately $42,000. Finally, Jones Financial Companies Lllp grew its holdings in Penguin Solutions by 4,131.7% during the third quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company’s stock valued at $45,000 after purchasing an additional 1,694 shares during the period.

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.