Penguin Solutions Expected to Post 54.2% Revenue Growth in Q3

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3▲1 ▼0Impact / 5
Summary · why it matters

Penguin Solutions will report third-quarter earnings this Tuesday after market hours, with the market expecting revenue to grow 54.2% year on year. That would mark an acceleration from the 8.6% increase the semiconductor maker recorded in the same quarter last year. Last quarter, Penguin Solutions beat analysts' revenue expectations with revenues of $478.7 million, up 47.6% year on year, and also beat EPS and operating income estimates. Analysts have generally reconfirmed their estimates over the last 30 days, though the company has missed Wall Street's revenue estimates multiple times over the last two years. Among its semiconductor peers, only Micron has reported so far, exceeding revenue estimates with year-on-year sales growth of 379% and trading up 2.9% on the results. Penguin Solutions shares are up 19.9% over the last month, ahead of the segment's average gain of 11.6%, and carry an average analyst price target of $74.29 versus a current share price of $61.75.

Impact on assets 3

Artificial Intelligence▲ · 1 stocks
Penguin Solutions, Inc.
PENG
± MixedCapitalrelevance

Penguin Solutions is expected to post 54.2% revenue growth in Q3, but has missed revenue estimates multiple times in the past two years.

Semiconductors▲ · 1 stocks
Micron Technology Inc
MU
▲ PositiveCapitalrelevance

Micron reported and exceeded revenue estimates with 379% year-on-year sales growth, cited as a peer comparison.

Information Technology▲ · 1 stocks
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