Penguin Solutions, Inc. (NASDAQ:PENG – Get Free Report)’s stock price was up 8.1% during mid-day trading on Thursday . The stock traded as high as $65.88 and last traded at $64.5070. Approximately 398,247 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 1,965,846 shares. The stock had previously closed at $59.68.
Analysts Set New Price Targets
Several research analysts recently issued reports on PENG shares. Stifel Nicolaus increased their price objective on Penguin Solutions from $24.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Needham & Company LLC increased their price objective on Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Barclays cut Penguin Solutions from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $23.00 to $27.00 in a research note on Wednesday, April 22nd. Zacks Research cut Penguin Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Rosenblatt Securities increased their price objective on Penguin Solutions from $54.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $36.88.
Read Our Latest Stock Analysis on Penguin Solutions
Penguin Solutions Stock Performance
Penguin Solutions (NASDAQ:PENG – Get Free Report) last posted its earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The company had revenue of $343.00 million during the quarter, compared to analyst estimates of $339.00 million. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%. Research analysts anticipate that Penguin Solutions, Inc. will post 1.79 earnings per share for the current year.
Insider Buying and Selling
In other Penguin Solutions news, Director Sandeep Nayyar sold 7,107 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $43.48, for a total transaction of $309,012.36. Following the completion of the sale, the director owned 25,417 shares in the company, valued at $1,105,131.16. This represents a 21.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maximiliane C. Straub sold 3,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $49.00, for a total value of $147,000.00. Following the sale, the director owned 51,975 shares of the company’s stock, valued at approximately $2,546,775. This represents a 5.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 83,120 shares of company stock worth $3,486,734 in the last three months. Corporate insiders own 2.90% of the company’s stock.
Institutional Trading of Penguin Solutions
Several hedge funds and other institutional investors have recently made changes to their positions in PENG. Farther Finance Advisors LLC lifted its holdings in shares of Penguin Solutions by 187.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock valued at $28,000 after purchasing an additional 946 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Penguin Solutions during the 4th quarter valued at $29,000. Raymond James Financial Inc. purchased a new stake in shares of Penguin Solutions during the 2nd quarter valued at $37,000. Jones Financial Companies Lllp lifted its holdings in shares of Penguin Solutions by 4,131.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company’s stock valued at $45,000 after purchasing an additional 1,694 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Penguin Solutions by 41.4% during the 3rd quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock valued at $47,000 after purchasing an additional 525 shares during the last quarter.
Penguin Solutions Company Profile
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.
Featured Stories
- Five stocks we like better than Penguin Solutions
- CarMax In Reverse? Why You Should Buy Now Before the Big Catalysts Emerge
- Can Trupanion Turn Pet Insurance Loyalty Into Real Earnings?
- 3 Space ETFs for a Timely Investment
- USA Rare Earth Just Moved Closer to Commercial Reality
Receive News & Ratings for Penguin Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penguin Solutions and related companies with MarketBeat.com's FREE daily email newsletter.
