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

Rosenblatt Securities reiterated their buy rating on shares of Penguin Solutions (NASDAQ:PENG) in a research report report published on Friday, MarketBeat Ratings reports. They currently have a $80.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the company. Citigroup reissued an “outperform” rating on shares of Penguin Solutions in a research note on Wednesday, July 8th. Barclays cut Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 price target for the company. in a report on Monday, July 20th. Citizens Jmp raised their price objective on Penguin Solutions from $65.00 to $85.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. Finally, Needham & Company LLC boosted their price objective on shares of Penguin Solutions from $60.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. 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, the stock has an average rating of “Moderate Buy” and an average price target of $64.17.

Penguin Solutions Stock Performance

Penguin Solutions stock opened at $61.36 on Friday. The firm has a 50 day simple moving average of $53.23 and a 200-day simple moving average of $48.94. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 43.52 and a beta of 2.86. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 1.10. Penguin Solutions has a 1-year low of $16.04 and a 1-year high of $89.86.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, beating 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 firm had revenue of $478.71 million for the quarter, compared to analyst estimates of $407.47 million. During the same quarter in the previous year, the company earned $0.52 EPS. On average, analysts expect that Penguin Solutions will post 2.08 EPS for the current year.

Insider Buying and Selling

In other news, SVP Anne Kuykendall sold 4,000 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $50.58, for a total transaction of $202,320.00. Following the completion of the transaction, the senior vice president directly owned 112,994 shares in the company, valued at $5,715,236.52. This trade represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Clark sold 1,327 shares of the business’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total value of $76,262.69. Following the completion of the sale, the senior vice president owned 63,056 shares in the company, valued at $3,623,828.32. This represents a 2.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Penguin Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of PENG. BlackRock Inc. acquired a new position in Penguin Solutions in the 2nd quarter valued at about $581,658,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Penguin Solutions during the second quarter worth about $150,192,000. Paradigm Capital Management Inc. NY lifted its position in shares of 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 purchasing an additional 681,700 shares in the last quarter. Kennedy Capital Management LLC boosted its stake in shares of Penguin Solutions by 11.7% in the fourth quarter. Kennedy Capital Management LLC now owns 1,108,336 shares of the company’s stock valued at $21,679,000 after purchasing an additional 116,168 shares during the period. Finally, William Blair Investment Management LLC purchased a new position in shares of Penguin Solutions in the second quarter valued at approximately $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.