Penguin Solutions’ (PENG) Buy Rating Reaffirmed at Rosenblatt Securities

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

A number of other equities research analysts have also issued reports on PENG. Wall Street Zen lowered Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. Stifel Nicolaus lifted their price objective on Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Zacks Research downgraded shares of Penguin Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Barclays cut shares of Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 price target for the company. in a report on Monday, July 20th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Penguin Solutions in a report on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $64.17.

Penguin Solutions Price Performance

Shares of NASDAQ PENG 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. The business’s fifty day moving average price is $53.08 and its two-hundred day moving average price is $48.63. Penguin Solutions has a 1-year low of $16.04 and a 1-year high of $89.86. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 1.10.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.21. Penguin Solutions had a return on equity of 28.23% and a net margin of 6.44%.The company had revenue of $478.71 million for the quarter, compared to analyst estimates of $407.47 million. During the same period last year, the company earned $0.52 earnings per share. On average, research analysts expect that Penguin Solutions will post 2.08 EPS for the current year.

Insider Transactions at Penguin Solutions

In other news, SVP Anne Kuykendall sold 4,000 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $50.58, for a total transaction of $202,320.00. Following the completion of the transaction, the senior vice president directly owned 112,994 shares of the company’s stock, valued at $5,715,236.52. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Clark sold 1,327 shares of Penguin Solutions stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total transaction of $76,262.69. Following the completion of the sale, the senior vice president owned 63,056 shares in the company, valued at $3,623,828.32. This trade represents a 2.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PENG. BlackRock Inc. bought a new position in Penguin Solutions during the second quarter worth $581,658,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Penguin Solutions in the 2nd quarter valued at $150,192,000. Paradigm Capital Management Inc. NY raised its stake in Penguin Solutions by 73.8% during the first quarter. Paradigm Capital Management Inc. NY now owns 1,605,100 shares of the company’s stock worth $28,250,000 after acquiring an additional 681,700 shares in the last quarter. Kennedy Capital Management LLC lifted its stake in Penguin Solutions by 11.7% in the 4th quarter. Kennedy Capital Management LLC now owns 1,108,336 shares of the company’s stock valued at $21,679,000 after purchasing an additional 116,168 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in shares of Penguin Solutions during the 2nd quarter valued at $34,207,000.

Penguin Solutions Company Profile

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.