Penguin Solutions (NASDAQ:PENG) Trading Up 0.5% - Should You Buy?

Penguin Solutions (NASDAQ:PENG - Get Free Report) rose 0.5% on Wednesday . The stock traded as high as $19.82 and last traded at $19.52. Approximately 674,514 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 900,855 shares. The stock had previously closed at $19.42.

Analysts Set New Price Targets

PENG has been the topic of several analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $27.00 target price on shares of Penguin Solutions in a report on Thursday, April 3rd. Rosenblatt Securities reissued a "buy" rating and set a $27.00 target price on shares of Penguin Solutions in a research report on Thursday, April 17th. JPMorgan Chase & Co. started coverage on shares of Penguin Solutions in a report on Monday, March 31st. They set a "neutral" rating and a $20.00 price target for the company. Finally, The Goldman Sachs Group cut their price objective on shares of Penguin Solutions from $26.00 to $22.50 and set a "buy" rating on the stock in a report on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $24.94.

Penguin Solutions Stock Performance

The company has a debt-to-equity ratio of 1.61, a current ratio of 2.33 and a quick ratio of 1.75. The company has a fifty day moving average of $17.44 and a two-hundred day moving average of $18.66. The stock has a market capitalization of $992.39 million, a P/E ratio of -36.14 and a beta of 2.00.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 2nd. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.19. Penguin Solutions had a positive return on equity of 11.70% and a negative net margin of 2.21%. The business had revenue of $365.52 million during the quarter, compared to the consensus estimate of $344.44 million. The firm's revenue for the quarter was up 28.3% compared to the same quarter last year. On average, equities analysts anticipate that Penguin Solutions will post 1.05 EPS for the current year.

Insider Buying and Selling at Penguin Solutions

In related news, EVP Jack A. Pacheco sold 3,219 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $20.00, for a total value of $64,380.00. Following the sale, the executive vice president now owns 231,548 shares of the company's stock, valued at approximately $4,630,960. This trade represents a 1.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Penguin Solutions

Several large investors have recently added to or reduced their stakes in PENG. Vanguard Group Inc. acquired a new position in shares of Penguin Solutions during the first quarter valued at $111,458,000. Alliancebernstein L.P. bought a new position in Penguin Solutions in the 1st quarter worth about $28,919,000. Paradigm Capital Management Inc. NY acquired a new stake in shares of Penguin Solutions in the first quarter valued at approximately $19,545,000. Think Investments LP acquired a new position in shares of Penguin Solutions during the first quarter worth approximately $15,713,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in Penguin Solutions in the 1st quarter valued at approximately $14,786,000.

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.