Penguin Solutions (NASDAQ:PENG) Receives $25.43 Average Price Target from Analysts

Shares of Penguin Solutions (NASDAQ:PENG) have been given a consensus rating of “Buy” by the eight ratings firms that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $25.43.

A number of analysts have recently weighed in on PENG shares. Rosenblatt Securities restated a “buy” rating and issued a $27.00 price target on shares of Penguin Solutions in a report on Thursday, December 19th. Loop Capital assumed coverage on shares of Penguin Solutions in a research note on Tuesday, January 7th. They issued a “buy” rating and a $30.00 target price for the company. Barclays increased their price objective on Penguin Solutions from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Finally, Needham & Company LLC upped their target price on Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, January 9th.

Penguin Solutions Price Performance

Shares of PENG stock opened at $17.46 on Friday. The company has a market capitalization of $930.46 million, a P/E ratio of -33.58 and a beta of 1.70. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.75 and a current ratio of 2.33. The company’s 50-day moving average is $19.74. Penguin Solutions has a 1-year low of $14.87 and a 1-year high of $22.67.

Insider Buying and Selling

In other news, EVP Jack A. Pacheco sold 3,219 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $20.00, for a total value of $64,380.00. Following the transaction, the executive vice president now directly owns 231,548 shares of the company’s stock, valued at approximately $4,630,960. This represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joseph Gates Clark sold 2,131 shares of Penguin Solutions stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $20.94, for a total value of $44,623.14. Following the sale, the senior vice president now directly owns 89,469 shares of the company’s stock, valued at $1,873,480.86. This trade represents a 2.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,684 shares of company stock worth $393,617 in the last 90 days. 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.