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

Penguin Solutions (NASDAQ:PENG)‘s stock had its “buy” rating restated by investment analysts at Rosenblatt Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $27.00 price target on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 49.58% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. began coverage on shares of Penguin Solutions in a research note on Monday. They issued a “neutral” rating and a $20.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $27.00 price objective on shares of Penguin Solutions in a research report on Thursday. Loop Capital started coverage on Penguin Solutions in a report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Barclays raised 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. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Penguin Solutions currently has an average rating of “Buy” and a consensus price target of $24.75.

Penguin Solutions Trading Up 4.5 %

Shares of NASDAQ PENG opened at $18.05 on Thursday. The firm has a market capitalization of $961.90 million, a PE ratio of -34.71 and a beta of 1.83. The company has a fifty day moving average of $19.55. Penguin Solutions has a 12-month low of $14.87 and a 12-month high of $22.67. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.75 and a current ratio of 2.33.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings results on Wednesday, April 2nd. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.19. The company had revenue of $365.52 million for the quarter, compared to the consensus estimate of $344.44 million. Penguin Solutions had a positive return on equity of 11.70% and a negative net margin of 2.21%. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. On average, equities analysts forecast that Penguin Solutions will post 1.05 EPS for the current fiscal year.

Insider Activity at Penguin Solutions

In other news, COO Jack A. Pacheco sold 6,667 shares of Penguin Solutions stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $20.55, for a total transaction of $137,006.85. Following the sale, the chief operating officer now owns 231,548 shares in the company, valued at approximately $4,758,311.40. The trade was a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joseph Gates Clark sold 2,131 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $20.94, for a total value of $44,623.14. Following the completion of the sale, the senior vice president now directly owns 89,469 shares of the company’s stock, valued at approximately $1,873,480.86. This trade represents a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,684 shares of company stock valued at $393,617 over the last ninety days. Insiders own 2.60% of the company’s stock.

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.