Penguin Solutions, Inc. (NASDAQ:PENG) Given Average Rating of “Moderate Buy” by Analysts

Shares of Penguin Solutions, Inc. (NASDAQ:PENG) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $36.8750.

PENG has been the topic of several recent analyst reports. Needham & Company LLC increased their price target on Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Rosenblatt Securities increased their price objective on Penguin Solutions from $54.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Barclays cut Penguin Solutions from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $23.00 to $27.00 in a research note on Wednesday, April 22nd. Zacks Research cut Penguin Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Wall Street Zen raised Penguin Solutions from a “hold” rating to a “buy” rating in a research note on Sunday, May 17th.

Penguin Solutions Stock Performance

Shares of NASDAQ PENG opened at $67.15 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.55 and a current ratio of 2.10. The business’s 50 day moving average price is $46.05 and its 200-day moving average price is $28.80. Penguin Solutions has a fifty-two week low of $16.04 and a fifty-two week high of $73.24. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 93.26 and a beta of 2.89.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.09. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%.The firm had revenue of $343.00 million for the quarter, compared to the consensus estimate of $339.00 million. On average, sell-side analysts expect that Penguin Solutions will post 1.79 earnings per share for the current year.

Insider Transactions at Penguin Solutions

In related news, SVP Anne Kuykendall sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $54.45, for a total value of $217,800.00. Following the transaction, the senior vice president owned 124,794 shares of the company’s stock, valued at $6,795,033.30. This represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sandeep Nayyar sold 12,893 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $45.09, for a total value of $581,345.37. Following the completion of the transaction, the director directly owned 32,524 shares in the company, valued at approximately $1,466,507.16. This trade represents a 28.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 83,120 shares of company stock worth $3,486,734 in the last ninety days. 2.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. William Blair Investment Management LLC bought a new stake in Penguin Solutions during the 4th quarter valued at $18,290,000. Fisher Asset Management LLC bought a new stake in Penguin Solutions during the 4th quarter valued at $716,000. State of Alaska Department of Revenue boosted its position in Penguin Solutions by 98.3% during the 4th quarter. State of Alaska Department of Revenue now owns 47,576 shares of the company’s stock valued at $930,000 after acquiring an additional 23,582 shares in the last quarter. Kennedy Capital Management LLC boosted its position in Penguin Solutions by 31.9% during the 3rd quarter. Kennedy Capital Management LLC now owns 992,168 shares of the company’s stock valued at $26,074,000 after acquiring an additional 240,159 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Penguin Solutions during the 3rd quarter valued at $3,077,000.

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.