Penguin Solutions (NASDAQ:PENG) Given Average Rating of "Buy" by Analysts

Penguin Solutions (NASDAQ:PENG - Get Free Report) has been assigned a consensus recommendation of "Buy" from the six ratings firms that are currently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $23.60.

A number of equities analysts have weighed in on PENG shares. JMP Securities started coverage on Penguin Solutions in a report on Monday, November 18th. They issued an "outperform" rating and a $23.00 price target for the company. Barclays decreased their price target on Penguin Solutions from $27.00 to $22.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Needham & Company LLC decreased their price target on Penguin Solutions from $35.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, October 16th. The Goldman Sachs Group began coverage on Penguin Solutions in a report on Friday, November 1st. They issued a "buy" rating and a $21.00 price target for the company. Finally, Stifel Nicolaus cut their target price on Penguin Solutions from $32.00 to $27.00 and set a "buy" rating on the stock in a research report on Wednesday, October 16th.

Penguin Solutions Stock Performance

Shares of NASDAQ:PENG traded down $1.04 during trading on Wednesday, reaching $18.96. 1,177,031 shares of the stock were exchanged, compared to its average volume of 1,035,519. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.65. Penguin Solutions has a 12-month low of $14.87 and a 12-month high of $29.81. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -18.96 and a beta of 1.74. The company has a 50-day moving average price of $17.55.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last released its quarterly 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 company had revenue of $311.15 million during 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%. As a group, equities research analysts forecast that Penguin Solutions will post 1.33 EPS for the current year.

Insider Buying and Selling at Penguin Solutions

In other news, COO Jack A. Pacheco sold 13,334 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $20.05, for a total transaction of $267,346.70. Following the transaction, the chief operating officer now directly owns 235,960 shares of the company's stock, valued at approximately $4,730,998. This trade represents a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Gates Clark sold 2,264 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 95,999 shares in the company, valued at $1,679,982.50. This trade represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company 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.