Penguin Solutions (NASDAQ:PENG) Receives Average Rating of "Buy" from Analysts

Shares of Penguin Solutions (NASDAQ:PENG - Get Free Report) have been given an average recommendation of "Buy" by the nine research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $24.75.

A number of research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Penguin Solutions from $22.00 to $23.00 and gave the stock an "overweight" rating in a research note on Thursday, January 9th. Loop Capital started coverage on shares of Penguin Solutions in a research note on Tuesday, January 7th. They set a "buy" rating and a $30.00 target price for the company. Needham & Company LLC raised their price target on Penguin Solutions from $25.00 to $27.00 and gave the company a "buy" rating in a research note on Thursday, January 9th. JPMorgan Chase & Co. began coverage on Penguin Solutions in a research report on Monday. They set a "neutral" rating and a $20.00 price objective for the company. Finally, Rosenblatt Securities reissued a "buy" rating and set a $27.00 target price on shares of Penguin Solutions in a research report on Thursday, December 19th.

Penguin Solutions Stock Performance

Shares of PENG traded down $0.50 during midday trading on Friday, hitting $16.96. The company had a trading volume of 372,192 shares, compared to its average volume of 894,826. Penguin Solutions has a 1 year low of $14.87 and a 1 year high of $22.67. The firm has a market capitalization of $903.82 million, a price-to-earnings ratio of -32.45 and a beta of 1.70. The company has a quick ratio of 1.75, a current ratio of 2.33 and a debt-to-equity ratio of 1.61. The company has a 50-day moving average price of $19.74.

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Insider Activity at Penguin Solutions

In other Penguin Solutions news, SVP Joseph Gates Clark sold 2,131 shares of Penguin Solutions stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $20.94, for a total value of $44,623.14. Following the transaction, the senior vice president now directly owns 89,469 shares in the company, valued at approximately $1,873,480.86. The trade was a 2.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jack A. Pacheco sold 6,667 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $20.55, for a total transaction of $137,006.85. Following the completion of the sale, the chief operating officer now directly owns 231,548 shares of the company's stock, valued at $4,758,311.40. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,684 shares of company stock valued at $393,617 in the last three months. 2.60% of the stock is currently owned by company insiders.

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.