Penguin Solutions (NASDAQ:PENG) Given Consensus Recommendation of "Buy" by Brokerages

Penguin Solutions (NASDAQ:PENG - Get Free Report) has been given a consensus recommendation of "Buy" by the eight brokerages that are currently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $25.43.

A number of research firms have commented on PENG. Needham & Company LLC raised their target price on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a "buy" rating in a report on Thursday, January 9th. Loop Capital began coverage on shares of Penguin Solutions in a research report on Tuesday, January 7th. They issued a "buy" rating and a $30.00 price target for the company. Citizens Jmp upgraded shares of Penguin Solutions to a "strong-buy" rating in a research report on Monday, November 18th. The Goldman Sachs Group initiated coverage on Penguin Solutions in a report on Friday, November 1st. They issued a "buy" rating and a $21.00 target price for the company. Finally, JMP Securities started coverage on Penguin Solutions in a report on Monday, November 18th. They set an "outperform" rating and a $23.00 price target on the stock.

Penguin Solutions Trading Down 0.3 %

Shares of NASDAQ PENG traded down $0.07 during mid-day trading on Thursday, hitting $20.77. 437,407 shares of the company traded hands, compared to its average volume of 960,761. The business's 50 day moving average is $19.79. Penguin Solutions has a 1 year low of $14.87 and a 1 year high of $29.81. The company has a quick ratio of 1.75, a current ratio of 2.33 and a debt-to-equity ratio of 1.61.

Insider Transactions at Penguin Solutions

In other Penguin Solutions news, COO Jack A. Pacheco sold 13,334 shares of Penguin Solutions stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $20.05, for a total value of $267,346.70. Following the completion of the sale, the chief operating officer now directly owns 235,960 shares in the company, valued at $4,730,998. The trade was a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph Gates Clark sold 2,131 shares of the 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 owns 89,469 shares in the company, 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 have sold 31,062 shares of company stock valued at $621,917. 2.60% of the stock is owned by 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.