Penguin Solutions (NASDAQ:PENG) Trading Up 13.8% – Should You Buy?

Shares of Penguin Solutions, Inc. (NASDAQ:PENG) traded up 13.8% during trading on Tuesday . The company traded as high as $36.50 and last traded at $36.8850. 3,099,770 shares traded hands during trading, an increase of 120% from the average session volume of 1,407,406 shares. The stock had previously closed at $32.40.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $30.00 target price on shares of Penguin Solutions in a research note on Monday, March 30th. Weiss Ratings raised shares of Penguin Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, April 6th. Needham & Company LLC lifted their target price on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Finally, Barclays downgraded shares of Penguin Solutions from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $23.00 to $27.00 in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.25.

Penguin Solutions Trading Up 12.5%

The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 50.63 and a beta of 2.66. The business’s 50-day simple moving average is $21.47 and its two-hundred day simple moving average is $20.69. The company has a quick ratio of 1.55, a current ratio of 2.10 and a debt-to-equity ratio of 1.09.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. The business had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $339.00 million. Equities analysts forecast that Penguin Solutions, Inc. will post 1.66 earnings per share for the current year.

Insider Transactions at Penguin Solutions

In other Penguin Solutions news, SVP Anne Kuykendall sold 4,000 shares of Penguin Solutions stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $17.75, for a total transaction of $71,000.00. Following the completion of the sale, the senior vice president directly owned 131,352 shares in the company, valued at $2,331,498. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joseph Gates Clark sold 5,000 shares of Penguin Solutions stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $29.75, for a total transaction of $148,750.00. Following the completion of the transaction, the senior vice president owned 86,776 shares of the company’s stock, valued at $2,581,586. This trade represents a 5.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 30,115 shares of company stock valued at $723,997. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Illinois Municipal Retirement Fund grew its holdings in shares of Penguin Solutions by 18.0% in the first quarter. Illinois Municipal Retirement Fund now owns 27,441 shares of the company’s stock valued at $483,000 after purchasing an additional 4,183 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Penguin Solutions by 1.4% in the first quarter. Principal Financial Group Inc. now owns 232,673 shares of the company’s stock valued at $4,095,000 after purchasing an additional 3,242 shares in the last quarter. Fifth Third Bancorp grew its holdings in Penguin Solutions by 25,349.1% during the 1st quarter. Fifth Third Bancorp now owns 55,479 shares of the company’s stock worth $976,000 after acquiring an additional 55,261 shares in the last quarter. Inspire Investing LLC grew its holdings in Penguin Solutions by 26.3% during the 1st quarter. Inspire Investing LLC now owns 34,997 shares of the company’s stock worth $616,000 after acquiring an additional 7,297 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in Penguin Solutions during the 1st quarter worth approximately $373,000.

Penguin Solutions Company Profile

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.