Penguin Solutions (NASDAQ:PENG) Given New $23.00 Price Target at Barclays

Penguin Solutions (NASDAQ:PENG) had its target price hoisted by Barclays from $22.00 to $23.00 in a research note published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

PENG has been the subject of several other reports. JMP Securities began coverage on Penguin Solutions in a research note on Monday, November 18th. They issued an “outperform” rating and a $23.00 price objective for the company. Loop Capital initiated coverage on Penguin Solutions in a research note on Tuesday, January 7th. They set a “buy” rating and a $30.00 price objective on the stock. Citizens Jmp upgraded shares of Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. The Goldman Sachs Group began coverage on shares of Penguin Solutions in a research report on Friday, November 1st. They set a “buy” rating and a $21.00 price target on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a research note on Thursday, December 19th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $25.43.

Penguin Solutions Trading Up 7.9 %

NASDAQ PENG opened at $20.65 on Thursday. The firm has a market cap of $1.10 billion, a P/E ratio of -20.65 and a beta of 1.69. The company has a fifty day simple moving average of $18.67. The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65. Penguin Solutions has a 12-month low of $14.87 and a 12-month high of $29.81.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings data 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). Penguin Solutions had a negative net margin of 4.48% and a positive return on equity of 8.05%. The business had revenue of $311.15 million for the quarter, compared to analyst estimates of $325.00 million. Sell-side analysts predict that Penguin Solutions will post 1.33 EPS for the current year.

Insider Buying and Selling at Penguin Solutions

In related news, COO Jack A. Pacheco sold 13,334 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $20.05, for a total value of $267,346.70. Following the sale, the chief operating officer now directly owns 235,960 shares in the company, valued at approximately $4,730,998. The trade was a 5.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph Gates Clark sold 2,264 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.50, for a total transaction of $39,620.00. Following the transaction, the insider now owns 95,999 shares of the company’s stock, valued at $1,679,982.50. This represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,264 shares of company stock worth $440,287 over the last three months. 2.60% of the stock is currently owned by insiders.

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.