Penguin Solutions (NASDAQ:PENG) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Penguin Solutions (NASDAQ:PENG) from a hold rating to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Wall Street Zen raised shares of Penguin Solutions from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Weiss Ratings raised shares of Penguin Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Needham & Company LLC raised their target price on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Stifel Nicolaus cut their target price on shares of Penguin Solutions from $27.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Finally, The Goldman Sachs Group assumed coverage on shares of Penguin Solutions in a report on Tuesday, January 13th. They issued a “buy” rating and a $25.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.29.

Penguin Solutions Trading Up 7.2%

Shares of PENG opened at $22.12 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.10 and a quick ratio of 1.86. Penguin Solutions has a 1 year low of $14.42 and a 1 year high of $29.80. The company has a 50 day simple moving average of $18.86 and a two-hundred day simple moving average of $20.57. The firm has a market cap of $1.12 billion, a P/E ratio of 30.72 and a beta of 2.23.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. The business had revenue of $343.00 million during the quarter, compared to analyst estimates of $339.00 million. On average, equities analysts expect that Penguin Solutions will post 1.05 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Anne Kuykendall sold 4,000 shares of Penguin Solutions stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $17.75, for a total value of $71,000.00. Following the completion of the sale, the senior vice president directly owned 131,352 shares in the company, valued at $2,331,498. The trade was a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Joseph Gates Clark sold 1,346 shares of Penguin Solutions stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $19.03, for a total value of $25,614.38. Following the completion of the sale, the senior vice president owned 122,318 shares of the company’s stock, valued at $2,327,711.54. The trade was a 1.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.90% of the company’s stock.

Institutional Trading of Penguin Solutions

Several institutional investors and hedge funds have recently made changes to their positions in PENG. Farther Finance Advisors LLC raised its holdings in shares of Penguin Solutions by 187.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock valued at $28,000 after acquiring an additional 946 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Penguin Solutions in the fourth quarter valued at about $29,000. Raymond James Financial Inc. bought a new stake in shares of Penguin Solutions in the second quarter valued at about $37,000. Strs Ohio bought a new stake in shares of Penguin Solutions in the third quarter valued at about $42,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Penguin Solutions by 4,131.7% in the third quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company’s stock valued at $45,000 after acquiring an additional 1,694 shares in 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.