Insider Selling: PENG (NASDAQ:PENG) Insider Sells 2,264 Shares of Stock

PENG (NASDAQ:PENG) insider Joseph Gates Clark sold 2,264 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.50, for a total value of $39,620.00. Following the transaction, the insider now directly owns 95,999 shares of the company’s stock, valued at $1,679,982.50. This represents a 2.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

PENG Price Performance

Shares of PENG opened at $16.42 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65. PENG has a 1-year low of $14.87 and a 1-year high of $29.81.

PENG (NASDAQ:PENG) last released its earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.04). The firm had revenue of $311.15 million during the quarter, compared to analysts’ expectations of $325.00 million. PENG had a positive return on equity of 8.05% and a negative net margin of 4.48%. On average, equities research analysts forecast that PENG will post 1.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Barclays cut their price target on shares of PENG from $27.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Needham & Company LLC dropped their target price on shares of PENG from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. The Goldman Sachs Group assumed coverage on shares of PENG in a report on Friday, November 1st. They set a “buy” rating and a $21.00 target price for the company. Finally, Stifel Nicolaus decreased their price target on shares of PENG from $32.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th.

PENG Company Profile

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced 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.