Penguin Solutions (NASDAQ:PENG) Price Target Raised to $23.00 at Barclays

Penguin Solutions (NASDAQ:PENG) had its price target lifted by Barclays from $22.00 to $23.00 in a research note released on Thursday,Benzinga reports. Barclays currently has an overweight rating on the stock.

PENG has been the subject of several other reports. Citizens Jmp raised Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. Loop Capital began coverage on Penguin Solutions in a research note on Tuesday. They issued a “buy” rating and a $30.00 price target on the stock. Needham & Company LLC upped their price objective on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday. Rosenblatt Securities reissued a “buy” rating and issued a $27.00 target price on shares of Penguin Solutions in a research report on Thursday, December 19th. Finally, Stifel Nicolaus reduced their price target on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $25.43.

Penguin Solutions Stock Down 3.6 %

NASDAQ:PENG opened at $19.13 on Thursday. The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65. The business’s 50-day moving average price is $18.49. Penguin Solutions has a 52-week low of $14.87 and a 52-week high of $29.81. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -19.13 and a beta of 1.69.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.04). Penguin Solutions had a positive return on equity of 8.05% and a negative net margin of 4.48%. The business had revenue of $311.15 million during the quarter, compared to analyst estimates of $325.00 million. Sell-side analysts expect that Penguin Solutions will post 1.33 EPS for the current year.

Insider Activity at Penguin Solutions

In other Penguin Solutions news, COO Jack A. Pacheco sold 13,334 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $20.05, for a total value of $267,346.70. Following the transaction, the chief operating officer now owns 235,960 shares in the company, valued at $4,730,998. The trade was a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph Gates Clark sold 2,264 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.50, for a total value of $39,620.00. Following the sale, the insider now directly owns 95,999 shares of the company’s stock, valued at $1,679,982.50. This trade represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,264 shares of company stock valued at $440,287. 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.