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

Shares of Penguin Solutions, Inc. (NASDAQ:PENG) have been assigned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $63.3333.

PENG has been the subject of a number of research reports. Stifel Nicolaus boosted their price target on Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Rosenblatt Securities increased their target price on shares of Penguin Solutions from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Barclays lowered shares of Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 price target for the company. in a report on Monday, July 20th. Citigroup reaffirmed an “outperform” rating on shares of Penguin Solutions in a research report on Wednesday, July 8th. Finally, Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th.

Insider Buying and Selling at Penguin Solutions

In other Penguin Solutions news, SVP Joseph Clark sold 1,327 shares of the stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $57.47, for a total transaction of $76,262.69. Following the sale, the senior vice president owned 63,056 shares of the company’s stock, valued at approximately $3,623,828.32. This trade represents a 2.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $50.58, for a total value of $202,320.00. Following the completion of the transaction, the senior vice president directly owned 112,994 shares of the company’s stock, valued at approximately $5,715,236.52. The trade was a 3.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 9,327 shares of company stock worth $536,103 in the last ninety days. Insiders own 2.90% of the company’s stock.

Institutional Trading of Penguin Solutions

A number of institutional investors have recently modified their holdings of PENG. BlackRock Inc. purchased a new position in shares of Penguin Solutions in the 2nd quarter worth approximately $581,658,000. California State Teachers Retirement System lifted its position in Penguin Solutions by 5,256.9% during the second quarter. California State Teachers Retirement System now owns 3,995,162 shares of the company’s stock valued at $303,672,000 after acquiring an additional 3,920,582 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in Penguin Solutions in the third quarter valued at approximately $60,264,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Penguin Solutions in the second quarter worth $150,192,000. Finally, Invesco Ltd. increased 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 worth $38,972,000 after purchasing an additional 1,706,482 shares in the last quarter.

Penguin Solutions Stock Performance

PENG stock opened at $48.63 on Friday. Penguin Solutions has a twelve month low of $16.04 and a twelve month high of $89.86. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 34.49 and a beta of 2.86. The business’s fifty day simple moving average is $59.09 and its two-hundred day simple moving average is $43.95. The company has a quick ratio of 1.10, a current ratio of 1.54 and a debt-to-equity ratio of 0.65.

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

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.