PENG (NASDAQ:PENG) Receives Consensus Rating of “Buy” from Analysts

PENG (NASDAQ:PENG) has been assigned an average recommendation of “Buy” from the five analysts that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $23.60.

Several research firms recently commented on PENG. JMP Securities began coverage on PENG in a report on Monday, November 18th. They issued an “outperform” rating and a $23.00 price objective for the company. Citizens Jmp upgraded PENG to a “strong-buy” rating in a research note on Monday, November 18th. Needham & Company LLC lowered their price objective on PENG from $35.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Barclays lowered their price objective on PENG from $27.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group initiated coverage on PENG in a research report on Friday, November 1st. They set a “buy” rating and a $21.00 price objective on the stock.

PENG Stock Performance

Shares of NASDAQ:PENG opened at $17.65 on Friday. PENG has a 1-year low of $14.87 and a 1-year high of $29.81. The firm has a market cap of $940.57 million, a PE ratio of -17.65 and a beta of 1.70. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65.

PENG (NASDAQ:PENG) last released its quarterly earnings data on Tuesday, October 15th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.04). PENG had a positive return on equity of 8.05% and a negative net margin of 4.48%. The business had revenue of $311.15 million during the quarter, compared to the consensus estimate of $325.00 million. As a group, equities analysts anticipate that PENG will post 1.33 EPS for the current fiscal year.

Insider Transactions at PENG

In other news, 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 transaction, the insider now owns 95,999 shares of the company’s stock, valued at approximately $1,679,982.50. The trade was a 2.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.40% of the company’s stock.

About PENG

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced 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.