Penguin Solutions (NASDAQ:PENG) EVP Jack A. Pacheco Sells 3,219 Shares of Stock

Penguin Solutions (NASDAQ:PENG) EVP Jack A. Pacheco sold 3,219 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $20.00, for a total value of $64,380.00. Following the transaction, the executive vice president now owns 231,548 shares in the company, valued at approximately $4,630,960. This trade represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Penguin Solutions Stock Down 1.9 %

PENG opened at $18.94 on Thursday. The stock has a 50-day simple moving average of $19.84. Penguin Solutions has a twelve month low of $14.87 and a twelve month high of $22.67. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.33 and a quick ratio of 1.75. The stock has a market capitalization of $1.01 billion, a P/E ratio of -36.42 and a beta of 1.70.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Needham & Company LLC lifted their price target on Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, January 9th. Rosenblatt Securities reiterated a “buy” rating and set a $27.00 target price on shares of Penguin Solutions in a research note on Thursday, December 19th. Barclays increased their price target on shares of Penguin Solutions from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Finally, Loop Capital initiated coverage on shares of Penguin Solutions in a report on Tuesday, January 7th. They set a “buy” rating and a $30.00 price objective for the company. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $25.43.

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.