Penguin Solutions, Inc. (NASDAQ:PENG – Get Free Report)’s stock price was up 10.7% during mid-day trading on Tuesday. The company traded as high as $53.30 and last traded at $52.5780. Approximately 649,390 shares changed hands during trading, a decline of 75% from the average daily volume of 2,579,077 shares. The stock had previously closed at $47.50.
Analysts Set New Price Targets
PENG has been the topic of several research reports. Citigroup restated an “outperform” rating on shares of Penguin Solutions in a report on Wednesday, July 8th. Needham & Company LLC raised their target price on shares of Penguin Solutions from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. Barclays lifted their target price on shares of Penguin Solutions from $40.00 to $60.00 and gave the company an “underweight” rating in a report on Wednesday, October 7th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $85.00 price target on shares of Penguin Solutions in a research report on Wednesday, October 7th. Finally, Wall Street Zen downgraded Penguin Solutions from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Penguin Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.50.
Check Out Our Latest Stock Analysis on PENG
Penguin Solutions Trading Up 12.3%
The firm has a 50-day moving average price of $56.10 and a 200-day moving average price of $44.01. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 0.72 and a beta of 2.86. The company has a current ratio of 1.88, a quick ratio of 1.25 and a debt-to-equity ratio of 1.37.
Penguin Solutions (NASDAQ:PENG – Get Free Report) last issued its earnings results on Tuesday, October 6th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.23. The business had revenue of $566.68 million for the quarter, compared to analysts’ expectations of $520.99 million. Penguin Solutions had a return on equity of 36.71% and a net margin of 10.43%. During the same period in the previous year, the firm posted $0.11 EPS. Penguin Solutions has set its FY 2027 guidance at 3.750-5.15 EPS. As a group, sell-side analysts predict that Penguin Solutions, Inc. will post 4.05 EPS for the current year.
Insider Buying and Selling
In related news, SVP Anne Kuykendall sold 738 shares of the company’s stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $55.08, for a total transaction of $40,649.04. Following the completion of the sale, the senior vice president directly owned 141,988 shares of the company’s stock, valued at approximately $7,820,699.04. This represents a 0.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Joseph Clark sold 869 shares of the business’s stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $51.52, for a total value of $44,770.88. Following the transaction, the senior vice president directly owned 85,853 shares of the company’s stock, valued at $4,423,146.56. This represents a 1.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 10,238 shares of company stock worth $560,552. 2.90% of the stock is owned by company insiders.
Institutional Trading of Penguin Solutions
Several institutional investors have recently made changes to their positions in the business. CenterBook Partners LP grew its stake in Penguin Solutions by 317.1% in the third quarter. CenterBook Partners LP now owns 24,030 shares of the company’s stock valued at $1,314,000 after acquiring an additional 18,269 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Penguin Solutions by 10.6% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 11,525 shares of the company’s stock valued at $630,000 after acquiring an additional 1,100 shares in the last quarter. IPG Investment Advisors LLC boosted its stake in Penguin Solutions by 118.1% in the 3rd quarter. IPG Investment Advisors LLC now owns 6,352 shares of the company’s stock worth $347,000 after purchasing an additional 3,439 shares during the period. Vise Technologies Inc. increased its holdings in Penguin Solutions by 71.8% during the 3rd quarter. Vise Technologies Inc. now owns 8,480 shares of the company’s stock worth $464,000 after purchasing an additional 3,545 shares in the last quarter. Finally, Americana Partners LLC increased its holdings in Penguin Solutions by 64.3% during the 3rd quarter. Americana Partners LLC now owns 24,142 shares of the company’s stock worth $1,320,000 after purchasing an additional 9,450 shares in the last quarter.
Penguin Solutions Company Profile
Penguin Solutions, Inc provides technology products and services for data center, cloud, artificial intelligence, high-performance computing, edge computing and embedded applications. The company designs and delivers memory products, computing platforms and integrated infrastructure intended to help organizations manage demanding workloads and deploy specialized technology environments.
Its offerings include memory modules and other memory-related products, high-performance computing systems, servers, storage and networking solutions, and software and services for infrastructure management.
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