Penguin Solutions (NASDAQ:PENG) Given “Buy” Rating at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Penguin Solutions (NASDAQ:PENG) in a research report released on Thursday morning,Benzinga reports. The firm currently has a $27.00 target price on the stock.

Several other equities analysts have also weighed in on PENG. Barclays cut their target price on shares of Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Needham & Company LLC decreased their price objective on shares of Penguin Solutions from $35.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. The Goldman Sachs Group assumed coverage on Penguin Solutions in a research report on Friday, November 1st. They set a “buy” rating and a $21.00 target price on the stock. Citizens Jmp raised Penguin Solutions to a “strong-buy” rating in a report on Monday, November 18th. Finally, Stifel Nicolaus dropped their price objective on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Penguin Solutions currently has an average rating of “Buy” and an average target price of $24.17.

Penguin Solutions Price Performance

NASDAQ:PENG traded down $0.01 during mid-day trading on Thursday, hitting $18.35. The company’s stock had a trading volume of 165,946 shares, compared to its average volume of 1,032,725. The business’s fifty day moving average price is $17.60. The company has a market capitalization of $977.87 million, a PE ratio of -18.35 and a beta of 1.74. The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65. Penguin Solutions has a 1 year low of $14.87 and a 1 year high of $29.81.

Penguin Solutions (NASDAQ:PENG) last posted its earnings results on Tuesday, October 15th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.04). Penguin Solutions had a positive return on equity of 8.05% and a negative net margin of 4.48%. The company had revenue of $311.15 million for the quarter, compared to analyst estimates of $325.00 million. Analysts anticipate that Penguin Solutions will post 1.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Jack A. Pacheco sold 13,334 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $20.05, for a total value of $267,346.70. Following the completion of the sale, the chief operating officer now directly owns 235,960 shares in the company, valued at $4,730,998. This represents a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $39,620.00. Following the transaction, the insider now owns 95,999 shares in the company, valued at $1,679,982.50. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

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.