Penguin Solutions (NASDAQ:PENG) Receives $25.43 Consensus Target Price from Brokerages

Penguin Solutions (NASDAQ:PENG) has been assigned an average recommendation of “Buy” from the eight research firms that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $25.43.

Several research firms recently weighed in on PENG. Citizens Jmp upgraded Penguin Solutions to a “strong-buy” rating in a research report on Monday, November 18th. Needham & Company LLC boosted their target price on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, January 9th. Stifel Nicolaus reduced their target price on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. JMP Securities started coverage on shares of Penguin Solutions in a research report on Monday, November 18th. They set an “outperform” rating and a $23.00 price target for the company. Finally, Loop Capital initiated coverage on shares of Penguin Solutions in a report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price objective on the stock.

Penguin Solutions Price Performance

PENG stock opened at $19.58 on Friday. 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 1 year low of $14.87 and a 1 year high of $29.81. The business has a 50-day moving average of $18.78. The company has a market capitalization of $1.04 billion, a P/E ratio of -19.58 and a beta of 1.69.

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

Insider Buying and Selling

In other news, insider Joseph Gates Clark sold 2,264 shares of the company’s stock in a transaction on 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 directly owns 95,999 shares of the company’s stock, valued at $1,679,982.50. This represents a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jack A. Pacheco sold 6,666 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $20.00, for a total value of $133,320.00. Following the sale, the chief operating officer now directly owns 235,960 shares in the company, valued at $4,719,200. This trade represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,264 shares of company stock worth $440,287 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

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.