PENG (NASDAQ:PENG) Trading Up 5% – Still a Buy?

PENG (NASDAQ:PENG) shares rose 5% during mid-day trading on Monday . The stock traded as high as $18.61 and last traded at $18.53. Approximately 220,425 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 1,043,326 shares. The stock had previously closed at $17.65.

Analyst Ratings Changes

PENG has been the topic of a number of research analyst reports. Needham & Company LLC cut their price target on PENG from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Stifel Nicolaus cut their target price on shares of PENG from $32.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Barclays decreased their price target on shares of PENG from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Citizens Jmp raised shares of PENG to a “strong-buy” rating in a research report on Monday, November 18th. Finally, The Goldman Sachs Group assumed coverage on PENG in a research report on Friday, November 1st. They issued a “buy” rating and a $21.00 target price for the company. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $23.60.

PENG Stock Up 2.4 %

The firm has a market capitalization of $963.48 million, a price-to-earnings ratio of -18.53 and a beta of 1.70. The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65.

PENG (NASDAQ:PENG) last released 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). PENG 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. As a group, analysts predict that PENG will post 1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Joseph Gates Clark sold 2,264 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.50, for a total value of $39,620.00. Following the completion of the transaction, the insider now directly owns 95,999 shares of the company’s stock, valued at approximately $1,679,982.50. This trade represents a 2.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.40% of the company’s stock.

PENG Company Profile

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced 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.