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

Penguin Solutions (NASDAQ:PENG)‘s stock had its “buy” rating reaffirmed by Rosenblatt Securities in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $80.00 price objective on the stock. Rosenblatt Securities’ price objective indicates a potential upside of 33.83% from the stock’s previous close.

A number of other analysts have also commented on PENG. Stifel Nicolaus boosted their price target on Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a report 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. Needham & Company LLC increased their price objective on shares of Penguin Solutions from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Weiss Ratings upgraded Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. Finally, Wall Street Zen downgraded Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $64.17.

Penguin Solutions Trading Up 8.7%

Penguin Solutions stock traded up $4.80 during trading hours on Friday, reaching $59.78. 958,426 shares of the company’s stock traded hands, compared to its average volume of 2,278,063. Penguin Solutions has a fifty-two week low of $16.04 and a fifty-two week high of $89.86. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 42.36 and a beta of 2.86. 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 firm’s 50 day moving average is $53.08 and its 200-day moving average is $48.63.

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

Insiders Place Their Bets

In related news, SVP Anne Kuykendall sold 4,000 shares of Penguin Solutions stock in a transaction on Monday, August 24th. The shares were sold at an average price of $50.58, for a total transaction 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. The trade was a 3.42% 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, SVP Joseph Clark sold 1,327 shares of the firm’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total transaction of $76,262.69. Following the sale, the senior vice president directly owned 63,056 shares of the company’s stock, valued at approximately $3,623,828.32. The trade was a 2.06% decrease in their ownership of the stock. 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 owned by company insiders.

Institutional Investors Weigh In On Penguin Solutions

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Penguin Solutions in the 2nd quarter valued at approximately $581,658,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Penguin Solutions during the 2nd quarter worth approximately $150,192,000. Paradigm Capital Management Inc. NY grew its stake in Penguin Solutions by 73.8% during the first quarter. Paradigm Capital Management Inc. NY now owns 1,605,100 shares of the company’s stock worth $28,250,000 after buying an additional 681,700 shares during the last quarter. Kennedy Capital Management LLC lifted its position in Penguin Solutions by 11.7% during the 4th quarter. Kennedy Capital Management LLC now owns 1,108,336 shares of the company’s stock worth $21,679,000 after buying an additional 116,168 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in Penguin Solutions in the 2nd quarter valued at $34,207,000.

Penguin Solutions Company Profile

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.