Penguin Solutions (NASDAQ:PENG) Given New $27.00 Price Target at Needham & Company LLC

Penguin Solutions (NASDAQ:PENG) had its price objective lifted by Needham & Company LLC from $25.00 to $27.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

PENG has been the topic of a number of other research reports. JMP Securities assumed coverage on shares of Penguin Solutions in a research report on Monday, November 18th. They set an “outperform” rating and a $23.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a research note on Thursday, December 19th. Barclays lowered their target price on Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Citizens Jmp raised shares of Penguin Solutions to a “strong-buy” rating in a research report on Monday, November 18th. Finally, The Goldman Sachs Group assumed coverage on shares of Penguin Solutions in a report on Friday, November 1st. They set a “buy” rating and a $21.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $25.43.

Penguin Solutions Price Performance

Shares of Penguin Solutions stock opened at $19.13 on Thursday. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -19.13 and a beta of 1.69. The company’s 50-day simple moving average is $18.49. The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65. Penguin Solutions has a one year low of $14.87 and a one year high of $29.81.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings data 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 company had revenue of $311.15 million during the quarter, compared to the consensus estimate of $325.00 million. Penguin Solutions had a negative net margin of 4.48% and a positive return on equity of 8.05%. On average, sell-side analysts expect that Penguin Solutions will post 1.33 EPS for the current fiscal year.

Insider Transactions at Penguin Solutions

In other Penguin Solutions news, insider Joseph Gates Clark sold 2,264 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.50, for a total value of $39,620.00. Following the completion of the transaction, the insider now owns 95,999 shares in the company, valued at $1,679,982.50. This represents a 2.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jack A. Pacheco sold 6,666 shares of Penguin Solutions stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $20.00, for a total value of $133,320.00. Following the sale, the chief operating officer now owns 235,960 shares in the company, valued at $4,719,200. The trade was a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,264 shares of company stock worth $440,287 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

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.