Penguin Solutions (NASDAQ:PENG) EVP Jack A. Pacheco Sells 3,219 Shares

Penguin Solutions (NASDAQ:PENG - Get Free Report) EVP Jack A. Pacheco sold 3,219 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $20.00, for a total value of $64,380.00. Following the completion of the transaction, the executive vice president now owns 231,548 shares of the company's stock, valued at $4,630,960. This trade represents a 1.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Penguin Solutions Price Performance

PENG stock traded down $0.79 during midday trading on Friday, hitting $17.46. 706,116 shares of the stock traded hands, compared to its average volume of 899,233. The company's fifty day moving average is $19.74. The firm has a market capitalization of $930.46 million, a price-to-earnings ratio of -33.58 and a beta of 1.70. Penguin Solutions has a 1-year low of $14.87 and a 1-year high of $22.67. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.75 and a current ratio of 2.33.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Barclays lifted their target price on Penguin Solutions from $22.00 to $23.00 and gave the stock an "overweight" rating in a report on Thursday, January 9th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $27.00 price objective on shares of Penguin Solutions in a report on Thursday, December 19th. Loop Capital began coverage on shares of Penguin Solutions in a report on Tuesday, January 7th. They set a "buy" rating and a $30.00 target price for the company. Finally, Needham & Company LLC increased their price target on Penguin Solutions from $25.00 to $27.00 and gave the stock a "buy" rating in a research report on Thursday, January 9th. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $25.43.

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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.