Penguin Solutions (NASDAQ:PENG) Upgraded to Strong-Buy at Loop Capital

Penguin Solutions (NASDAQ:PENG - Get Free Report) was upgraded by equities research analysts at Loop Capital to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on PENG. Barclays cut their target price on shares of Penguin Solutions from $27.00 to $22.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. Stifel Nicolaus reduced their target price on Penguin Solutions from $32.00 to $27.00 and set a "buy" rating on the stock in a report on Wednesday, October 16th. Needham & Company LLC lowered 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. JMP Securities began coverage on Penguin Solutions in a research report on Monday, November 18th. They set an "outperform" rating and a $23.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on shares of Penguin Solutions in a report on Friday, November 1st. They issued a "buy" rating and a $21.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $25.00.

Penguin Solutions Stock Down 3.6 %

Shares of NASDAQ PENG traded down $0.71 during trading on Monday, reaching $19.13. 1,194,688 shares of the stock were exchanged, compared to its average volume of 869,715. The company has a market cap of $1.02 billion, a P/E ratio of -19.13 and a beta of 1.69. The business's 50-day moving average price is $18.42. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65. Penguin Solutions has a twelve month low of $14.87 and a twelve month high of $29.81.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.04). The business had revenue of $311.15 million for 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, sell-side analysts expect that Penguin Solutions will post 1.33 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Jack A. Pacheco sold 6,666 shares of the firm's stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $20.00, for a total transaction of $133,320.00. Following the completion of the transaction, the chief operating officer now owns 235,960 shares in the company, valued at approximately $4,719,200. This trade represents a 2.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joseph Gates Clark sold 2,264 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.50, for a total transaction of $39,620.00. Following the completion of the sale, the insider now owns 95,999 shares in the company, valued at $1,679,982.50. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,264 shares of company stock worth $440,287 over the last three months. Corporate insiders own 2.60% of the company's stock.

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.