Penguin Solutions (NASDAQ:PENG) Price Target Raised to $27.00 at Needham & Company LLC
by Danessa Lincoln · The Markets DailyPenguin Solutions (NASDAQ:PENG – Free Report) had its price objective raised by Needham & Company LLC from $25.00 to $27.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.
Several other research analysts have also recently commented on PENG. Weiss Ratings cut shares of Penguin Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, March 11th. Rosenblatt Securities restated a “buy” rating and issued a $30.00 price target on shares of Penguin Solutions in a research report on Monday. The Goldman Sachs Group initiated coverage on shares of Penguin Solutions in a research note on Tuesday, January 13th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Penguin Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.29.
Read Our Latest Stock Report on Penguin Solutions
Penguin Solutions Stock Up 13.4%
Shares of Penguin Solutions stock opened at $20.69 on Thursday. Penguin Solutions has a 12-month low of $14.20 and a 12-month high of $29.80. The firm has a market capitalization of $1.09 billion, a PE ratio of 28.74 and a beta of 2.23. The company has a quick ratio of 1.86, a current ratio of 2.33 and a debt-to-equity ratio of 1.10. The stock’s fifty day moving average is $18.77 and its 200-day moving average is $20.78.
Penguin Solutions (NASDAQ:PENG – Get Free Report) last released its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. The business had revenue of $343.00 million during the quarter, compared to analyst estimates of $339.00 million. Penguin Solutions had a return on equity of 19.31% and a net margin of 4.07%. Equities analysts anticipate that Penguin Solutions will post 1.05 earnings per share for the current year.
Insider Transactions at Penguin Solutions
In other Penguin Solutions news, SVP Joseph Gates Clark sold 1,346 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $19.03, for a total value of $25,614.38. Following the transaction, the senior vice president directly owned 122,318 shares of the company’s stock, valued at $2,327,711.54. This represents a 1.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Anne Kuykendall sold 4,000 shares of the firm’s 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 sale, the senior vice president directly owned 131,352 shares of the company’s stock, valued at $2,331,498. This trade represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.90% of the company’s stock.
Hedge Funds Weigh In On Penguin Solutions
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP bought a new stake in Penguin Solutions in the third quarter worth approximately $60,264,000. Invesco Ltd. lifted its stake in shares of Penguin Solutions by 596.8% in the 4th quarter. Invesco Ltd. now owns 1,992,415 shares of the company’s stock valued at $38,972,000 after purchasing an additional 1,706,482 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Penguin Solutions in the 4th quarter valued at $18,290,000. Ophir Asset Management Pty Ltd boosted its holdings in Penguin Solutions by 234.3% in the fourth quarter. Ophir Asset Management Pty Ltd now owns 1,211,612 shares of the company’s stock worth $23,699,000 after purchasing an additional 849,178 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC bought a new stake in Penguin Solutions in the third quarter worth $15,789,000.
Key Headlines Impacting Penguin Solutions
Here are the key news stories impacting Penguin Solutions this week:
- Positive Sentiment: Q2 results beat expectations: EPS $0.52 vs. $0.43 consensus and revenue $343M vs. $339M; management raised FY sales and EPS guidance, underpinning the rally. Q2 Results & Release
- Positive Sentiment: Analysts revised forecasts upward after the report: Needham raised its price target from $25 to $27 (buy); multiple outlets note sell‑side support following the guidance lift. Needham Raise
- Positive Sentiment: Institutional buying and short‑covering boosted near‑term momentum: MarketBeat and others report heavy institutional accumulation and a post‑earnings spike (~15%), which helped push price and volume. MarketBeat Coverage
- Positive Sentiment: Balance‑sheet / strategic tidy up: Penguin sold its remaining 19% interest in its Brazil memory business for ~$46.08M, providing cash and simplifying operations. Brazil Divestiture
- Neutral Sentiment: Market commentary highlights AI tailwinds and deep‑value metrics, suggesting upside if growth and margin improvements persist; these pieces help sentiment but are forward‑looking. MarketBeat Analysis
- Neutral Sentiment: Broad news coverage (Bloomberg, MarketWatch, Yahoo, Barron’s) flagged PENG as a top mover after earnings—driving attention and volume but not changing fundamentals. Bloomberg Stock Movers
- Negative Sentiment: Mixed analyst moves — Stifel cut its price target from $27 to $24 (though it kept a buy rating), indicating some caution on near‑term upside despite the beat. Stifel PT Cut
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.