Penguin Solutions (NASDAQ:PENG) Stock Rating Lowered by Wall Street Zen

Penguin Solutions (NASDAQ:PENG) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday.

A number of other equities research analysts have also commented on PENG. Citizens Jmp upped their price target on shares of Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a report on Wednesday, July 8th. Barclays lowered shares of Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 price target on the stock. in a report on Monday, July 20th. Zacks Research upgraded shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Stifel Nicolaus upped their price objective on shares of Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings upgraded shares of Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.33.

Penguin Solutions Stock Performance

NASDAQ PENG opened at $52.49 on Friday. The company has a 50-day simple moving average of $63.11 and a two-hundred day simple moving average of $37.22. 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 has a 12-month low of $16.04 and a 12-month high of $89.86. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 37.23 and a beta of 2.83.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings data on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.63 by $0.21. The firm had revenue of $478.71 million for the quarter, compared to the consensus estimate of $407.47 million. Penguin Solutions had a return on equity of 28.23% and a net margin of 6.44%.During the same quarter in the previous year, the business earned $0.52 earnings per share. On average, equities analysts forecast that Penguin Solutions will post 2.08 EPS for the current year.

Insider Activity at Penguin Solutions

In other Penguin Solutions news, SVP Anne Kuykendall sold 4,000 shares of Penguin Solutions stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $64.38, for a total transaction of $257,520.00. Following the sale, the senior vice president directly owned 120,794 shares of the company’s stock, valued at approximately $7,776,717.72. The trade was a 3.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sandeep Nayyar sold 12,893 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $45.09, for a total value of $581,345.37. Following the transaction, the director owned 32,524 shares in the company, valued at $1,466,507.16. This trade represents a 28.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 58,351 shares of company stock valued at $2,859,351 in the last three months. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Penguin Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tactive Advisors LLC bought a new position in Penguin Solutions in the second quarter worth $747,000. FNY Investment Advisers LLC bought a new stake in shares of Penguin Solutions during the 2nd quarter valued at $714,000. Central Pacific Bank Trust Division boosted its holdings in shares of Penguin Solutions by 31.7% during the 2nd quarter. Central Pacific Bank Trust Division now owns 18,976 shares of the company’s stock valued at $1,442,000 after buying an additional 4,567 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Penguin Solutions by 34.0% during the 1st quarter. Pacer Advisors Inc. now owns 261,776 shares of the company’s stock valued at $4,607,000 after buying an additional 66,460 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in shares of Penguin Solutions by 52.8% in the 1st quarter. California State Teachers Retirement System now owns 74,580 shares of the company’s stock worth $1,313,000 after buying an additional 25,763 shares during the period.

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.