Penguin Solutions, Inc. (NASDAQ:PENG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Penguin Solutions, Inc. (NASDAQ:PENG) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $27.25.

PENG has been the subject of a number of recent analyst reports. Rosenblatt Securities restated a “buy” rating and set a $30.00 target price on shares of Penguin Solutions in a report on Monday, March 30th. Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Weiss Ratings upgraded Penguin Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, April 6th. Needham & Company LLC upped their target price on Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Finally, Wall Street Zen downgraded Penguin Solutions from a “buy” rating to a “hold” rating in a report on Saturday.

Insiders Place Their Bets

In other Penguin Solutions news, SVP Joseph Gates Clark sold 12,546 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $22.55, for a total value of $282,912.30. Following the completion of the transaction, the senior vice president owned 99,726 shares in the company, valued at approximately $2,248,821.30. This represents a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $17.75, for a total value of $71,000.00. Following the completion of the transaction, the senior vice president owned 131,352 shares of the company’s stock, valued at approximately $2,331,498. This trade represents a 2.96% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 30,115 shares of company stock valued at $723,997. 2.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Penguin Solutions

Institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in Penguin Solutions by 187.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock worth $28,000 after purchasing an additional 946 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Penguin Solutions in the fourth quarter worth $29,000. Strs Ohio bought a new position in Penguin Solutions in the third quarter worth $42,000. Jones Financial Companies Lllp grew its stake in shares of Penguin Solutions by 4,131.7% in the third quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company’s stock worth $45,000 after acquiring an additional 1,694 shares during the last quarter. Finally, Allworth Financial LP grew its stake in shares of Penguin Solutions by 41.4% in the third quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock worth $47,000 after acquiring an additional 525 shares during the last quarter.

Penguin Solutions Price Performance

Shares of Penguin Solutions stock opened at $44.23 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.10 and a debt-to-equity ratio of 1.09. The company has a market cap of $2.24 billion, a PE ratio of 61.43 and a beta of 2.66. The business has a 50 day moving average of $22.58 and a 200 day moving average of $21.02. Penguin Solutions has a 52 week low of $16.04 and a 52 week high of $44.74.

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

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.