Penguin Solutions (NASDAQ:PENG) Receives $25.43 Consensus Target Price from Analysts

Shares of Penguin Solutions (NASDAQ:PENG) have been assigned a consensus recommendation of “Buy” from the eight research firms that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $25.43.

PENG has been the topic of a number of recent analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a research note on Thursday, December 19th. Barclays lifted their price target on Penguin Solutions from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. The Goldman Sachs Group began coverage on Penguin Solutions in a research note on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective on the stock. Needham & Company LLC boosted their target price on Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, January 9th. Finally, Stifel Nicolaus dropped their target price on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, October 16th.

Insider Transactions at Penguin Solutions

In related news, COO Jack A. Pacheco sold 6,666 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $20.00, for a total transaction of $133,320.00. Following the completion of the transaction, the chief operating officer now directly owns 235,960 shares of the company’s stock, valued at $4,719,200. This trade represents a 2.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph Gates Clark sold 2,264 shares of Penguin Solutions 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 transaction, the insider now directly 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. Over the last three months, insiders have sold 22,264 shares of company stock worth $440,287. Insiders own 2.60% of the company’s stock.

Penguin Solutions Price Performance

PENG stock opened at $20.51 on Friday. The firm has a 50-day moving average price of $18.93. The company has a debt-to-equity ratio of 1.61, a quick ratio of 2.19 and a current ratio of 2.33. Penguin Solutions has a 12 month low of $14.87 and a 12 month high of $29.81.

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.