Penguin Solutions (NASDAQ:PENG) COO Sells $133,320.00 in Stock

Penguin Solutions (NASDAQ:PENG) COO Jack A. Pacheco sold 6,666 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $20.00, for a total value of $133,320.00. Following the completion of the sale, the chief operating officer now directly owns 235,960 shares of the company’s stock, valued at approximately $4,719,200. This trade represents a 2.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Penguin Solutions Stock Down 3.1 %

NASDAQ:PENG opened at $19.37 on Monday. The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65. Penguin Solutions has a twelve month low of $14.87 and a twelve month high of $29.81. The company has a market capitalization of $1.03 billion, a PE ratio of -19.37 and a beta of 1.74. The firm has a fifty day moving average of $17.88.

Penguin Solutions (NASDAQ:PENG) last announced its 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 negative net margin of 4.48% and a positive return on equity of 8.05%. The company had revenue of $311.15 million for the quarter, compared to the consensus estimate of $325.00 million. On average, analysts expect that Penguin Solutions will post 1.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PENG has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on Penguin Solutions in a research report on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective for the company. Barclays lowered their price target on shares of Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. JMP Securities assumed coverage on shares of Penguin Solutions in a report on Monday, November 18th. They issued an “outperform” rating and a $23.00 price target on the stock. Needham & Company LLC lowered their price objective on shares of Penguin Solutions from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $27.00 target price on shares of Penguin Solutions in a report on Thursday, December 19th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Penguin Solutions currently has an average rating of “Buy” and an average price target of $24.17.

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.