Penguin Solutions (NASDAQ:PENG) Earns “Buy” Rating from Rosenblatt Securities

Penguin Solutions (NASDAQ:PENG)‘s stock had its “buy” rating restated by equities researchers at Rosenblatt Securities in a research note issued on Friday, Benzinga reports. They presently have a $80.00 price target on the stock. Rosenblatt Securities’ price target indicates a potential upside of 45.51% from the stock’s previous close.

A number of other analysts have also recently commented on the company. Wall Street Zen cut Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. Citigroup reissued an “outperform” rating on shares of Penguin Solutions in a research note on Wednesday, July 8th. Stifel Nicolaus raised their target price on shares of Penguin Solutions from $66.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Citizens Jmp lifted their target price on shares of Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a report on Wednesday, July 8th. Finally, Barclays downgraded shares of Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 price target on the stock. in a research note on Monday, July 20th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.17.

Penguin Solutions Trading Up 0.5%

Shares of Penguin Solutions stock opened at $54.98 on Friday. The firm has a market capitalization of $2.82 billion, a PE ratio of 38.99 and a beta of 2.86. Penguin Solutions has a twelve month low of $16.04 and a twelve month high of $89.86. The firm’s 50-day moving average price is $53.08 and its 200 day moving average price is $48.63. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.65.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.63 by $0.21. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. The firm had revenue of $478.71 million for the quarter, compared to analyst estimates of $407.47 million. During the same quarter in the previous year, the company earned $0.52 EPS. On average, sell-side analysts predict that Penguin Solutions will post 2.08 EPS for the current fiscal year.

Insider Buying and Selling at Penguin Solutions

In related news, SVP Anne Kuykendall sold 4,000 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $50.58, for a total transaction of $202,320.00. Following the completion of the sale, the senior vice president owned 112,994 shares in the company, valued at $5,715,236.52. This trade represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Clark sold 1,327 shares of the stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $57.47, for a total transaction of $76,262.69. Following the sale, the senior vice president directly owned 63,056 shares in the company, valued at approximately $3,623,828.32. This represents a 2.06% 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. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Penguin Solutions

A number of institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new stake in shares of Penguin Solutions in the second quarter valued at about $26,000. Allworth Financial LP acquired a new position in shares of Penguin Solutions in the second quarter valued at approximately $37,000. Nykredit A S acquired a new stake in Penguin Solutions during the 2nd quarter valued at approximately $42,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Penguin Solutions during the 2nd quarter worth approximately $74,000. Finally, Morgan Dempsey Capital Management LLC acquired a new stake in shares of Penguin Solutions during the 4th quarter worth approximately $78,000.

About Penguin Solutions

Penguin Solutions, Inc provides intelligent infrastructure solutions for artificial intelligence, high-performance computing, enterprise data centers and other demanding technology environments. The company combines specialized hardware, software and professional services to help organizations design, deploy and manage complex computing infrastructure.

Its offerings include AI and high-performance computing systems, servers, storage and networking infrastructure, as well as software and services for infrastructure management, optimization and support.