JMP Securities Begins Coverage on PENG (NASDAQ:PENG)

JMP Securities began coverage on shares of PENG (NASDAQ:PENG) in a report published on Monday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $23.00 price objective on the stock.

PENG has been the subject of several other reports. Barclays cut their target price on PENG from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. The Goldman Sachs Group assumed coverage on PENG in a research note on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective on the stock. Stifel Nicolaus dropped their target price on shares of PENG from $32.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Finally, Needham & Company LLC lowered their price objective on shares of PENG from $35.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $23.60.

PENG Stock Up 2.8 %

Shares of NASDAQ PENG opened at $17.43 on Monday. The firm has a market capitalization of $928.84 million, a price-to-earnings ratio of -17.28 and a beta of 1.70. PENG has a fifty-two week low of $14.87 and a fifty-two week high of $29.81. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65.

PENG (NASDAQ:PENG) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). The company had revenue of $311.15 million during the quarter, compared to analyst estimates of $325.00 million. PENG had a negative net margin of 4.48% and a positive return on equity of 8.05%. As a group, equities analysts anticipate that PENG will post 1.33 EPS for the current fiscal year.

Insider Activity

In other PENG news, insider Joseph Gates Clark sold 2,264 shares of the company’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 in the company, valued at approximately $1,679,982.50. This represents a 2.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.