Penguin Solutions, Inc. (NASDAQ:PENG) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Penguin Solutions, Inc. has received an average rating of “Moderate Buy” from eleven analysts, with a 12-month price target of $28.00.
• Insider Jack A. Pacheco sold 63,447 shares at an average price of $24.83, decreasing his ownership by 21.83%.
• Recent trends show several hedge funds acquiring new positions in Penguin Solutions, indicating growing institutional interest in the company.

Shares of Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) have earned an average rating of "Moderate Buy" from the eleven analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $28.00.

A number of analysts have weighed in on PENG shares. Rosenblatt Securities cut their price objective on shares of Penguin Solutions from $36.00 to $30.00 and set a "buy" rating on the stock in a report on Wednesday, October 8th. The Goldman Sachs Group increased their target price on shares of Penguin Solutions from $22.50 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Penguin Solutions in a research note on Wednesday, October 8th. Stifel Nicolaus upped their price objective on shares of Penguin Solutions from $27.00 to $31.00 and gave the company a "buy" rating in a research note on Monday, October 6th. Finally, Wall Street Zen lowered Penguin Solutions from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th.

Insider Activity

In other Penguin Solutions news, EVP Jack A. Pacheco sold 63,447 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $24.83, for a total transaction of $1,575,389.01. Following the transaction, the executive vice president owned 227,231 shares of the company's stock, valued at approximately $5,642,145.73. This trade represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Penguin Solutions

Several hedge funds have recently made changes to their positions in PENG. Crews Bank & Trust purchased a new position in shares of Penguin Solutions during the first quarter worth about $28,000. Raymond James Financial Inc. purchased a new position in shares of Penguin Solutions during the second quarter worth about $37,000. IFP Advisors Inc purchased a new stake in shares of Penguin Solutions in the first quarter valued at about $39,000. CWM LLC purchased a new stake in shares of Penguin Solutions in the first quarter valued at about $39,000. Finally, Virtus Advisers LLC acquired a new stake in shares of Penguin Solutions during the first quarter worth about $43,000.

Penguin Solutions Trading Up 5.5%

PENG opened at $22.32 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.71 and a current ratio of 2.25. Penguin Solutions has a one year low of $14.20 and a one year high of $29.80. The company has a market cap of $1.17 billion, a P/E ratio of 76.97 and a beta of 2.20. The business's 50-day simple moving average is $25.01 and its 200-day simple moving average is $21.41.

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.

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