JMP Securities Begins Coverage on PENG (NASDAQ:PENG)

Stock analysts at JMP Securities started coverage on shares of PENG (NASDAQ:PENG) in a research report issued on Monday, Marketbeat reports. The brokerage set an “outperform” rating and a $23.00 price target on the stock. JMP Securities’ price objective suggests a potential upside of 40.07% from the stock’s previous close.

PENG has been the topic of several other research reports. Needham & Company LLC decreased their price target on PENG from $35.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Stifel Nicolaus reduced their target price on PENG from $32.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Barclays dropped their price objective on PENG from $27.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group started coverage on shares of PENG in a report on Friday, November 1st. They set a “buy” rating and a $21.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $23.60.

PENG Price Performance

Shares of PENG stock opened at $16.42 on Monday. PENG has a 12 month low of $14.87 and a 12 month high of $29.81. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.65. The firm has a market capitalization of $875.02 million, a PE ratio of -16.42 and a beta of 1.70.

PENG (NASDAQ:PENG) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). The business had revenue of $311.15 million for the quarter, compared to analyst estimates of $325.00 million. PENG had a positive return on equity of 8.05% and a negative net margin of 4.48%. As a group, sell-side analysts forecast that PENG will post 1.33 EPS for the current year.

Insider Transactions at PENG

In related news, insider Joseph Gates Clark sold 2,264 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.50, for a total value of $39,620.00. Following the sale, the insider now directly owns 95,999 shares in the company, valued at approximately $1,679,982.50. The trade was a 2.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.40% of the stock is currently owned by company insiders.

About PENG

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced 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.