Rosenblatt Securities Reaffirms Buy Rating for Penguin Solutions (NASDAQ:PENG)

Rosenblatt Securities reaffirmed their buy rating on shares of Penguin Solutions (NASDAQ:PENG) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $27.00 price target on the stock.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus decreased their target price on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Citizens Jmp upgraded shares of Penguin Solutions to a “strong-buy” rating in a report on Monday, November 18th. JMP Securities started coverage on shares of Penguin Solutions in a report on Monday, November 18th. They issued an “outperform” rating and a $23.00 target price for the company. Barclays decreased their price target on Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group initiated coverage on Penguin Solutions in a research note on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective for the company. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $24.17.

Penguin Solutions Stock Down 0.1 %

Shares of Penguin Solutions stock traded down $0.01 during mid-day trading on Thursday, hitting $18.35. The stock had a trading volume of 165,946 shares, compared to its average volume of 1,032,725. The firm’s 50-day simple moving average is $17.60. The company has a market cap of $977.87 million, a price-to-earnings ratio of -18.35 and a beta of 1.74. The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65. Penguin Solutions has a 12-month low of $14.87 and a 12-month high of $29.81.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.04). Penguin Solutions 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 analysts’ expectations of $325.00 million. Sell-side analysts expect that Penguin Solutions will post 1.33 earnings per share for the current year.

Insider Transactions at Penguin Solutions

In other news, COO Jack A. Pacheco sold 13,334 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $20.05, for a total transaction of $267,346.70. Following the completion of the transaction, the chief operating officer now directly owns 235,960 shares of the company’s stock, valued at approximately $4,730,998. The trade was a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph Gates Clark sold 2,264 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were 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 directly owns 95,999 shares in the company, valued at approximately $1,679,982.50. This trade represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

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.