Penguin Solutions’ (PENG) Buy Rating Reaffirmed at Rosenblatt Securities

Penguin Solutions (NASDAQ:PENG)‘s stock had its “buy” rating reiterated by equities research analysts at Rosenblatt Securities in a research report issued on Friday, Benzinga reports. They presently have a $80.00 price objective on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 45.51% from the company’s current price.

Several other brokerages have also issued reports on PENG. Needham & Company LLC raised their target price on shares of Penguin Solutions from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Zacks Research lowered shares of Penguin Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Citizens Jmp raised their target price on shares of Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 8th. Stifel Nicolaus raised their target price 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, Barclays lowered shares of Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 target price on the stock. in a research note on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Penguin Solutions has an average rating of “Moderate Buy” and an average target price of $64.17.

Penguin Solutions Price Performance

Shares of PENG stock opened at $54.98 on Friday. The stock’s fifty day moving average is $53.08 and its 200-day moving average is $48.63. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.54. The stock has a market capitalization of $2.82 billion, a PE ratio of 38.99 and a beta of 2.86. Penguin Solutions has a 52 week low of $16.04 and a 52 week high of $89.86.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings results on Tuesday, July 7th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.21. The business had revenue of $478.71 million for the quarter, compared to analysts’ expectations 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 last year, the business earned $0.52 earnings per share. Equities research analysts expect that Penguin Solutions will post 2.08 EPS for the current fiscal year.

Insider Transactions at Penguin Solutions

In other Penguin Solutions news, SVP Joseph Clark sold 1,327 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $57.47, for a total transaction of $76,262.69. Following the transaction, the senior vice president owned 63,056 shares in the company, valued at approximately $3,623,828.32. This trade represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $50.58, for a total value of $202,320.00. Following the transaction, the senior vice president owned 112,994 shares in the company, valued at approximately $5,715,236.52. This trade represents a 3.42% 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. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Penguin Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PENG. Global Retirement Partners LLC bought a new position in Penguin Solutions during the second quarter worth about $26,000. Allworth Financial LP bought a new position in Penguin Solutions during the second quarter worth about $37,000. Nykredit A S bought a new position in Penguin Solutions during the second quarter worth about $42,000. Public Employees Retirement System of Ohio bought a new position in Penguin Solutions during the second quarter worth about $74,000. Finally, Morgan Dempsey Capital Management LLC bought a new position in Penguin Solutions during the fourth quarter worth about $78,000.

About Penguin Solutions

Penguin Solutions, Inc provides intelligent infrastructure solutions for artificial intelligence, high-performance computing, enterprise data centers and other demanding technology environments. The company combines specialized hardware, software and professional services to help organizations design, deploy and manage complex computing infrastructure.

Its offerings include AI and high-performance computing systems, servers, storage and networking infrastructure, as well as software and services for infrastructure management, optimization and support.