Brokerages Set Penguin Solutions (NASDAQ:PENG) Target Price at $25.43

Penguin Solutions (NASDAQ:PENG) has been given a consensus rating of “Buy” by the eight analysts that are presently covering the company, MarketBeat 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 12-month price target among brokerages that have updated their coverage on the stock in the last year is $25.43.

A number of research analysts have recently issued reports on PENG shares. 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 on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $27.00 price objective on shares of Penguin Solutions in a research report on Thursday, December 19th. JMP Securities started coverage on shares of Penguin Solutions in a research report on Monday, November 18th. They set an “outperform” rating and a $23.00 target price on the stock. Needham & Company LLC increased their target price on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, January 9th. Finally, Barclays lifted their price target on shares of Penguin Solutions from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th.

Insiders Place Their Bets

In other news, insider Joseph Gates Clark sold 2,264 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.50, for a total value of $39,620.00. Following the completion of the sale, the insider now directly owns 95,999 shares of the company’s stock, valued at $1,679,982.50. This represents a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jack A. Pacheco sold 6,666 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $20.00, for a total value of $133,320.00. Following the completion of the transaction, the chief operating officer now owns 235,960 shares in the company, valued at $4,719,200. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,264 shares of company stock worth $440,287. Insiders own 2.60% of the company’s stock.

Penguin Solutions Stock Performance

PENG stock opened at $20.51 on Friday. The company has a current ratio of 2.33, a quick ratio of 2.19 and a debt-to-equity ratio of 1.61. The firm has a fifty day moving average price of $18.93. Penguin Solutions has a 12-month low of $14.87 and a 12-month high of $29.81.

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.