Brokerages Set Penguin Solutions, Inc. (NASDAQ:PENG) Price Target at $27.13

Key Points

• Penguin Solutions, Inc. (NASDAQ:PENG) has received a consensus "Buy" recommendation from nine analysts, with an average one-year target price of $27.13.
• The company's stock price opened at $24.35 on Monday, with a 12-month trading range between a low of $14.20 and a high of $25.94.
• Insider trading activity includes significant sales by Director Penny Herscher and EVP Jack A. Pacheco, both of whom reduced their holdings in the company recently.

Shares of Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) have received a consensus rating of "Buy" from the nine analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $27.1250.

PENG has been the subject of several research reports. The Goldman Sachs Group upped their price target 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. Wall Street Zen cut shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Needham & Company LLC boosted their price objective on shares of Penguin Solutions from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Penguin Solutions from $21.00 to $24.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Finally, Loop Capital boosted their price objective on shares of Penguin Solutions from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Monday, July 14th.

Insider Buying and Selling at Penguin Solutions

In other Penguin Solutions news, EVP Jack A. Pacheco sold 63,447 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $24.83, for a total value of $1,575,389.01. Following the transaction, the executive vice president directly owned 227,231 shares of the company's stock, valued at approximately $5,642,145.73. The trade was a 21.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Penny Herscher sold 2,046 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $25.42, for a total transaction of $52,009.32. Following the completion of the transaction, the director directly owned 18,222 shares in the company, valued at $463,203.24. This represents a 10.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,175 shares of company stock worth $1,644,448 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Penguin Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Penguin Solutions by 6.2% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,545 shares of the company's stock worth $268,000 after purchasing an additional 792 shares during the period. Inspire Investing LLC grew its stake in shares of Penguin Solutions by 3.6% during the 2nd quarter. Inspire Investing LLC now owns 24,293 shares of the company's stock worth $481,000 after purchasing an additional 835 shares during the period. Crews Bank & Trust acquired a new position in shares of Penguin Solutions during the 1st quarter worth $28,000. CWM LLC grew its stake in shares of Penguin Solutions by 82.1% during the 2nd quarter. CWM LLC now owns 4,111 shares of the company's stock worth $81,000 after purchasing an additional 1,854 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in shares of Penguin Solutions by 6.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 31,383 shares of the company's stock worth $621,000 after purchasing an additional 1,855 shares during the period.

Penguin Solutions Stock Performance

PENG stock traded down $0.49 on Monday, hitting $24.13. The company's stock had a trading volume of 459,960 shares, compared to its average volume of 718,555. The firm has a 50 day moving average of $23.24 and a two-hundred day moving average of $20.04. Penguin Solutions has a 1 year low of $14.20 and a 1 year high of $25.94. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -86.18 and a beta of 2.02. The company has a current ratio of 2.62, a quick ratio of 2.24 and a debt-to-equity ratio of 1.08.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last released its quarterly earnings results on Tuesday, July 8th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.30 by $0.17. Penguin Solutions had a negative net margin of 0.68% and a positive return on equity of 13.27%. The firm had revenue of $324.25 million during the quarter, compared to the consensus estimate of $330.82 million. Penguin Solutions has set its FY 2025 guidance at 1.750-1.850 EPS. Equities analysts predict that Penguin Solutions will post 1.05 EPS for the current fiscal year.

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.