Penguin Solutions (NASDAQ:PENG) Receives Consensus Rating of “Buy” from Analysts

Penguin Solutions (NASDAQ:PENG) has been assigned a consensus recommendation of “Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $25.43.

Several equities analysts recently issued reports on PENG shares. Rosenblatt Securities reissued a “buy” rating and set a $27.00 price target on shares of Penguin Solutions in a report on Thursday, December 19th. JMP Securities started coverage on shares of Penguin Solutions in a report on Monday, November 18th. They set an “outperform” rating and a $23.00 price objective for the company. Needham & Company LLC raised their price objective on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, January 9th. Citizens Jmp raised shares of Penguin Solutions to a “strong-buy” rating in a report on Monday, November 18th. Finally, Barclays raised their price objective on shares of Penguin Solutions from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th.

Insider Activity at Penguin Solutions

In related news, insider Joseph Gates Clark sold 2,264 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.50, for a total value of $39,620.00. Following the completion of the sale, the insider now owns 95,999 shares of the company’s stock, valued at $1,679,982.50. This trade 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 at the SEC website. Also, COO Jack A. Pacheco sold 13,334 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $20.05, for a total transaction of $267,346.70. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,062 shares of company stock valued at $621,917 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Penguin Solutions Stock Performance

Shares of NASDAQ PENG opened at $20.91 on Thursday. Penguin Solutions has a 52-week low of $14.87 and a 52-week high of $29.81. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.75 and a current ratio of 2.33. The firm’s fifty day moving average is $19.68. The company has a market capitalization of $1.11 billion, a PE ratio of -40.21 and a beta of 1.68.

Penguin Solutions Company Profile

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.