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

Shares of Penguin Solutions (NASDAQ:PENG) have been given an average recommendation of “Buy” by the nine ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $24.75.

PENG has been the topic of several research analyst reports. Barclays boosted their target price on Penguin Solutions from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. Needham & Company LLC boosted their price target on Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, January 9th. JPMorgan Chase & Co. initiated coverage on shares of Penguin Solutions in a report on Monday. They set a “neutral” rating and a $20.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $27.00 target price 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 set a “buy” rating and a $30.00 price target on the stock.

Insider Buying and Selling

In other Penguin Solutions news, COO Jack A. Pacheco sold 6,667 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $20.55, for a total value of $137,006.85. Following the sale, the chief operating officer now directly owns 231,548 shares of the company’s stock, valued at approximately $4,758,311.40. This represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Joseph Gates Clark sold 2,131 shares of Penguin Solutions stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $20.94, for a total value of $44,623.14. Following the transaction, 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. In the last quarter, insiders have sold 18,684 shares of company stock worth $393,617. 2.60% of the stock is owned by company insiders.

Penguin Solutions Trading Down 0.6 %

NASDAQ PENG opened at $17.27 on Friday. The business has a fifty day moving average price of $19.62. The stock has a market capitalization of $920.34 million, a price-to-earnings ratio of -33.21 and a beta of 1.70. The company has a quick ratio of 1.75, a current ratio of 2.33 and a debt-to-equity ratio of 1.61. Penguin Solutions has a 12-month low of $14.87 and a 12-month high of $22.67.

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.