PENG (NASDAQ:PENG) Trading Down 0.8% – Should You Sell?

PENG (NASDAQ:PENG) fell 0.8% on Friday . The stock traded as low as $17.65 and last traded at $17.99. 696,450 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 927,830 shares. The stock had previously closed at $18.14.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PENG shares. JMP Securities began coverage on PENG in a report on Monday, November 18th. They set an “outperform” rating and a $23.00 target price on the stock. Stifel Nicolaus dropped their price objective on shares of PENG from $32.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Needham & Company LLC decreased their target price on shares of PENG from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. The Goldman Sachs Group initiated coverage on shares of PENG in a research note on Friday, November 1st. They set a “buy” rating and a $21.00 price target on the stock. Finally, Barclays decreased their price objective on shares of PENG from $27.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $23.60.

PENG Trading Up 0.8 %

The company has a market cap of $966.68 million, a P/E ratio of -18.14 and a beta of 1.70. The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65.

PENG (NASDAQ:PENG) last issued its earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). The company had revenue of $311.15 million during the quarter, compared to analyst estimates of $325.00 million. PENG had a negative net margin of 4.48% and a positive return on equity of 8.05%. On average, equities research analysts predict that PENG will post 1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PENG news, insider Joseph Gates Clark sold 2,264 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $17.50, for a total transaction of $39,620.00. Following the completion of the sale, the insider now owns 95,999 shares in the company, valued at $1,679,982.50. The trade was a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is currently owned by company insiders.

PENG Company Profile

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced 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.