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

Penguin Solutions (NASDAQ:PENG) has been assigned an average rating of “Buy” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $25.43.

Several analysts have recently issued reports on the company. Citizens Jmp upgraded Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. The Goldman Sachs Group assumed coverage on Penguin Solutions in a research note on Friday, November 1st. They set a “buy” rating and a $21.00 price target for the company. JMP Securities assumed coverage on Penguin Solutions in a research note on Monday, November 18th. They set an “outperform” rating and a $23.00 price target for the company. Rosenblatt Securities reiterated a “buy” rating and set a $27.00 price target on shares of Penguin Solutions in a research note on Thursday, December 19th. Finally, Stifel Nicolaus decreased their price target on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th.

Penguin Solutions Price Performance

Shares of NASDAQ PENG opened at $20.91 on Thursday. The stock has a market capitalization of $1.11 billion, a P/E ratio of -40.21 and a beta of 1.68. The company has a 50-day moving average price of $19.68. Penguin Solutions has a one year low of $14.87 and a one year high of $29.81. The company has a quick ratio of 1.75, a current ratio of 2.33 and a debt-to-equity ratio of 1.61.

Insider Activity

In other news, SVP Joseph Gates Clark sold 2,131 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $20.94, for a total value of $44,623.14. Following the completion of the transaction, the senior vice president now owns 89,469 shares in the company, valued at approximately $1,873,480.86. This represents a 2.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jack A. Pacheco sold 13,334 shares of Penguin Solutions stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $20.05, for a total transaction of $267,346.70. Following the sale, the chief operating officer now owns 235,960 shares in the company, valued at approximately $4,730,998. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,062 shares of company stock valued at $621,917. Insiders own 2.60% 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.