Penguin Solutions’ (PENG) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Penguin Solutions (NASDAQ:PENG) in a report released on Thursday morning,Benzinga reports. Rosenblatt Securities currently has a $27.00 price objective on the stock.

PENG has been the subject of several other research reports. JPMorgan Chase & Co. assumed coverage on shares of Penguin Solutions in a report on Monday, March 31st. They issued a “neutral” rating and a $20.00 target price for the company. Barclays upped their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and set a $27.00 price objective on shares of Penguin Solutions in a report on Thursday. Finally, Loop Capital began coverage on Penguin Solutions in a report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 target price for the company. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Penguin Solutions currently has an average rating of “Buy” and a consensus target price of $24.94.

Penguin Solutions Trading Down 6.2 %

Shares of PENG stock opened at $15.19 on Thursday. The firm has a market capitalization of $809.49 million, a P/E ratio of -29.21 and a beta of 1.83. The stock’s fifty day moving average price is $19.35. The company has a current ratio of 2.33, a quick ratio of 1.75 and a debt-to-equity ratio of 1.61. Penguin Solutions has a 12 month low of $14.23 and a 12 month high of $22.67.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings data on Wednesday, April 2nd. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.19. The business had revenue of $365.52 million during the quarter, compared to analysts’ expectations of $344.44 million. Penguin Solutions had a positive return on equity of 11.70% and a negative net margin of 2.21%. The firm’s quarterly revenue was up 28.3% on a year-over-year basis. On average, equities analysts forecast that Penguin Solutions will post 1.05 EPS for the current year.

Insider Buying and Selling

In other Penguin Solutions news, SVP Joseph Gates Clark sold 2,131 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $20.94, for a total transaction 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jack A. Pacheco sold 3,219 shares of Penguin Solutions stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $20.00, for a total transaction of $64,380.00. Following the completion of the sale, the executive vice president now directly owns 231,548 shares in the company, valued at approximately $4,630,960. The trade was a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,684 shares of company stock valued at $393,617 over the last quarter. 2.60% of the stock is currently owned by insiders.

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.