Brokerages Set Penguin Solutions (NASDAQ:PENG) Target Price at $25.43

Shares of Penguin Solutions (NASDAQ:PENG) have been assigned a consensus rating of “Buy” from the nine brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $24.75.

PENG has been the subject of a number of research analyst reports. Loop Capital assumed coverage on Penguin Solutions in a research note on Tuesday, January 7th. They set a “buy” rating and a $30.00 price target for the company. Barclays lifted their target price on Penguin Solutions from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. JPMorgan Chase & Co. began coverage on shares of Penguin Solutions in a research note on Monday. They set a “neutral” rating and a $20.00 target price for the company. Needham & Company LLC raised their price target on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, January 9th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a research report on Thursday, December 19th.

Penguin Solutions Price Performance

Shares of NASDAQ PENG opened at $17.27 on Friday. Penguin Solutions has a 1 year low of $14.87 and a 1 year high of $22.67. The stock has a 50-day moving average price of $19.62. The company has a market capitalization of $920.34 million, a P/E ratio of -33.21 and a beta of 1.70. The company has a current ratio of 2.33, a quick ratio of 1.75 and a debt-to-equity ratio of 1.61.

Insiders Place Their Bets

In other news, SVP Joseph Gates Clark sold 2,131 shares of Penguin Solutions stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $20.94, for a total value of $44,623.14. Following the transaction, the senior vice president now directly owns 89,469 shares in the company, valued at approximately $1,873,480.86. This trade represents a 2.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jack A. Pacheco sold 3,219 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $20.00, for a total value of $64,380.00. Following the sale, the executive vice president now owns 231,548 shares of the company’s stock, valued at $4,630,960. This trade represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,684 shares of company stock worth $393,617 in the last three months. Corporate insiders own 2.60% of the company’s stock.

About Penguin Solutions

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.