Penguin Solutions (NASDAQ:PENG) Announces Earnings Results

Penguin Solutions (NASDAQ:PENG - Get Free Report) posted its earnings results on Wednesday. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.19, Briefing.com reports. The company had revenue of $365.52 million during the quarter, compared to the consensus estimate of $344.44 million. Penguin Solutions had a negative net margin of 2.21% and a positive return on equity of 11.70%. Penguin Solutions's quarterly revenue was up 28.3% compared to the same quarter last year. Penguin Solutions updated its FY25 guidance to $1.50-1.70 EPS and its FY 2025 guidance to 1.500-1.700 EPS.

Penguin Solutions Trading Down 1.0 %

PENG traded down $0.16 during midday trading on Tuesday, hitting $15.16. 517,272 shares of the company traded hands, compared to its average volume of 924,609. The stock has a market cap of $807.89 million, a P/E ratio of -29.19 and a beta of 1.83. The stock's 50 day moving average price is $19.28. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.33 and a quick ratio of 1.75. Penguin Solutions has a 52-week low of $14.23 and a 52-week high of $22.67.

Insider Buying and Selling

In related news, SVP Joseph Gates Clark sold 2,131 shares of the business's stock in a transaction that occurred 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 completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jack A. Pacheco sold 3,219 shares of the stock in a transaction on Monday, March 24th. The shares were 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 directly owns 231,548 shares of the company's stock, valued at approximately $4,630,960. This represents a 1.37 % 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 worth $393,617 in the last 90 days. Insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PENG. Needham & Company LLC restated a "buy" rating and issued a $27.00 target price on shares of Penguin Solutions in a research note on Thursday, April 3rd. The Goldman Sachs Group lowered their price objective on Penguin Solutions from $26.00 to $22.50 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. 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 price objective on the stock. Barclays boosted their target price 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. Finally, JPMorgan Chase & Co. began coverage on shares of Penguin Solutions in a research report on Monday, March 31st. They set a "neutral" rating and a $20.00 price target on the stock. One 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's stock. According to MarketBeat.com, Penguin Solutions currently has a consensus rating of "Buy" and a consensus target price of $24.94.

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.