Any thought on this? I was hoping to understand more about this. Please reply with any feedback.
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Load average is undepend from number of virtual or physical CPU.
It's just number of process that ready for work.
You can use prstat for monitor which process more use CPU and analyze is it normal or not.
CPU idle is near 51%. So this load is normal for this server. You ever can utilize more resources.
It's strange high value of kernel utilization ( 44%).
As initial step youv can try read this docs:
How to Analyze High CPU Utilization In Solaris (Doc ID 1008930.1)
How to use DTrace and mdb to Interpret vmstat Statistics (Doc ID 1009494.1)