Penguin Solutions (NASDAQ:PENG) Receives "Buy" Rating from Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Penguin Solutions (NASDAQ:PENG - Free Report) in a report issued on Thursday,Benzinga reports. Rosenblatt Securities currently has a $27.00 price objective on the stock.

A number of other research analysts have also recently commented on the stock. Needham & Company LLC reissued a "buy" rating and issued a $27.00 target price on shares of Penguin Solutions in a report on Thursday, April 3rd. Loop Capital started coverage on shares of Penguin Solutions in a research report on Tuesday, January 7th. They set a "buy" rating and a $30.00 target price for the company. JPMorgan Chase & Co. assumed coverage on Penguin Solutions in a research note on Monday, March 31st. They issued a "neutral" rating and a $20.00 price target on the stock. The Goldman Sachs Group decreased their target price on Penguin Solutions from $26.00 to $22.50 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Finally, Barclays upped their target price on shares of Penguin Solutions from $22.00 to $23.00 and gave the stock an "overweight" rating in a report on Thursday, January 9th. One equities research 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 company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $24.94.

Penguin Solutions Trading Up 0.5 %

Shares of PENG traded up $0.08 during mid-day trading on Thursday, reaching $15.79. The company's stock had a trading volume of 272,843 shares, compared to its average volume of 935,224. The company has a current ratio of 2.33, a quick ratio of 1.75 and a debt-to-equity ratio of 1.61. The stock has a market cap of $847.68 million, a PE ratio of -30.44 and a beta of 1.83. Penguin Solutions has a 1-year low of $14.20 and a 1-year high of $22.67. The business's 50-day moving average price is $18.28.

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

Insider Buying and Selling

In other Penguin Solutions news, EVP Jack A. Pacheco sold 3,219 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $20.00, for a total value of $64,380.00. Following the completion of the transaction, the executive vice president now directly owns 231,548 shares in the company, valued at $4,630,960. This represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Joseph Gates Clark sold 2,131 shares of the firm'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 sale, the senior vice president now owns 89,469 shares in the company, valued at $1,873,480.86. The trade was a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,017 shares of company stock worth $256,611 in the last quarter. Corporate insiders own 2.60% of the company's stock.

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.