Jack A. Pacheco Sells 6,667 Shares of Penguin Solutions (NASDAQ:PENG) Stock

Penguin Solutions (NASDAQ:PENG) COO Jack A. Pacheco sold 6,667 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $20.55, for a total value of $137,006.85. Following the completion of the sale, the chief operating officer now owns 231,548 shares in the company, valued at $4,758,311.40. The trade was a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Penguin Solutions Price Performance

Shares of Penguin Solutions stock opened at $20.62 on Friday. Penguin Solutions has a 52 week low of $14.87 and a 52 week high of $29.81. The firm has a 50 day moving average price of $19.31. The company has a quick ratio of 1.75, a current ratio of 2.33 and a debt-to-equity ratio of 1.61.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. JMP Securities assumed coverage on shares of Penguin Solutions in a research note on Monday, November 18th. They issued an “outperform” rating and a $23.00 price objective on the stock. Needham & Company LLC increased 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 reissued a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a research note on Thursday, December 19th. Stifel Nicolaus decreased their target price on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group began coverage on Penguin Solutions in a research note on Friday, November 1st. They issued a “buy” rating and a $21.00 price target on the stock. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Penguin Solutions presently has a consensus rating of “Buy” and a consensus price target 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.