Penguin Solutions (NASDAQ:PENG) Given Consensus Rating of “Buy” by Brokerages

Penguin Solutions (NASDAQ:PENG) has been given a consensus recommendation of “Buy” by the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $25.43.

PENG has been the topic of a number of analyst reports. Barclays increased their price objective on Penguin Solutions from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Needham & Company LLC lifted their price target 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. Rosenblatt Securities reissued a “buy” rating and set a $27.00 price objective on shares of Penguin Solutions in a research note on Thursday, December 19th. Finally, Loop Capital began coverage on shares of Penguin Solutions in a research note on Tuesday, January 7th. They issued a “buy” rating and a $30.00 target price for the company.

Insider Activity

In other news, COO Jack A. Pacheco sold 6,667 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $22.14, for a total value of $147,607.38. Following the transaction, the chief operating officer now directly owns 231,548 shares in the company, valued at $5,126,472.72. This trade represents a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Joseph Gates Clark sold 2,131 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $20.94, for a total value of $44,623.14. Following the sale, the senior vice president now owns 89,469 shares of the company’s stock, valued at $1,873,480.86. The trade was a 2.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,684 shares of company stock valued at $393,617 in the last ninety days. Company insiders own 2.60% of the company’s stock.

Penguin Solutions Stock Performance

Shares of NASDAQ:PENG opened at $18.25 on Friday. The company has a current ratio of 2.33, a quick ratio of 1.75 and a debt-to-equity ratio of 1.61. The company’s fifty day moving average is $19.80. The firm has a market cap of $972.56 million, a PE ratio of -35.10 and a beta of 1.70. Penguin Solutions has a one year low of $14.87 and a one year high of $22.67.

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.