Penguin Solutions (NASDAQ:PENG) COO Sells $267,346.70 in Stock

Penguin Solutions (NASDAQ:PENG) COO Jack A. Pacheco sold 13,334 shares of Penguin Solutions stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $20.05, for a total value of $267,346.70. Following the completion of the transaction, the chief operating officer now owns 235,960 shares of the company’s stock, valued at approximately $4,730,998. This represents a 5.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Penguin Solutions Stock Performance

Shares of PENG stock opened at $19.87 on Friday. Penguin Solutions has a fifty-two week low of $14.87 and a fifty-two week high of $29.81. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65. The company has a fifty day moving average price of $17.44. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -19.87 and a beta of 1.74.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). Penguin Solutions had a positive return on equity of 8.05% and a negative net margin of 4.48%. The business had revenue of $311.15 million for the quarter, compared to analyst estimates of $325.00 million. On average, equities analysts forecast that Penguin Solutions will post 1.33 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on PENG. Barclays cut their price objective on Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. The Goldman Sachs Group began coverage on shares of Penguin Solutions in a report on Friday, November 1st. They issued a “buy” rating and a $21.00 price target for the company. JMP Securities began coverage on shares of Penguin Solutions in a research report on Monday, November 18th. They set an “outperform” rating and a $23.00 price objective for the company. Citizens Jmp upgraded shares of Penguin Solutions to a “strong-buy” rating in a research report on Monday, November 18th. Finally, Stifel Nicolaus reduced their price target on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $23.60.

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.