Penguin Solutions (NASDAQ:PENG) Given Buy Rating at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Penguin Solutions (NASDAQ:PENG - Free Report) in a report released on Thursday morning,Benzinga reports. Rosenblatt Securities currently has a $27.00 target price on the stock.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. started coverage on Penguin Solutions in a research note on Monday, March 31st. They issued a "neutral" rating and a $20.00 price objective for the company. Loop Capital started coverage on shares of Penguin Solutions in a research report on Tuesday, January 7th. They issued a "buy" rating and a $30.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and set a $27.00 price target on shares of Penguin Solutions in a research report on Thursday, April 3rd. Finally, Barclays increased their price objective on shares of Penguin Solutions from $22.00 to $23.00 and gave the company an "overweight" rating in a research note on Thursday, January 9th. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $24.94.

Penguin Solutions Stock Down 1.0 %

NASDAQ PENG traded down $0.16 during trading hours on Thursday, reaching $15.16. The company's stock had a trading volume of 517,272 shares, compared to its average volume of 924,609. Penguin Solutions has a 1 year low of $14.23 and a 1 year high of $22.67. The business's 50-day moving average is $19.28. 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 stock has a market cap of $807.89 million, a P/E ratio of -29.19 and a beta of 1.83.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last posted its earnings results on Wednesday, April 2nd. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.19. Penguin Solutions had a positive return on equity of 11.70% and a negative net margin of 2.21%. The company had revenue of $365.52 million for the quarter, compared to the consensus estimate of $344.44 million. Penguin Solutions's quarterly revenue was up 28.3% compared to the same quarter last year. Equities research analysts anticipate that Penguin Solutions will post 1.05 EPS for the current fiscal year.

Insider Buying and Selling at Penguin Solutions

In other Penguin Solutions news, COO Jack A. Pacheco sold 6,667 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $22.14, for a total transaction of $147,607.38. Following the completion of the transaction, the chief operating officer now directly owns 231,548 shares of the company's stock, valued at approximately $5,126,472.72. This trade represents a 2.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Joseph Gates Clark sold 2,131 shares of the firm's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $20.94, for a total transaction of $44,623.14. Following the transaction, the senior vice president now directly owns 89,469 shares of the company's stock, valued at approximately $1,873,480.86. This trade represents a 2.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,684 shares of company stock worth $393,617. 2.60% of the stock is owned by 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.