Oregon Public Employees Retirement Fund Invests $212,000 in Penguin Solutions, Inc. (NASDAQ:PENG)

Oregon Public Employees Retirement Fund acquired a new stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,225 shares of the company's stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PENG. P.A.W. Capital Corp purchased a new stake in shares of Penguin Solutions in the 1st quarter worth $7,816,000. Peregrine Capital Management LLC purchased a new stake in Penguin Solutions in the first quarter worth about $4,616,000. New York State Teachers Retirement System bought a new position in Penguin Solutions during the 1st quarter worth about $248,000. Amalgamated Bank bought a new position in Penguin Solutions during the 1st quarter worth about $264,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Penguin Solutions during the 1st quarter valued at about $779,000.

Penguin Solutions Stock Up 1.1%

Penguin Solutions stock traded up $0.27 during midday trading on Friday, reaching $24.10. The company's stock had a trading volume of 1,048,849 shares, compared to its average volume of 904,549. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.62 and a quick ratio of 2.21. The stock has a market capitalization of $1.26 billion, a P/E ratio of 20.60 and a beta of 1.98. The stock's 50-day simple moving average is $19.50 and its 200-day simple moving average is $19.03. Penguin Solutions, Inc. has a 52-week low of $14.20 and a 52-week high of $24.18.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.17. The firm had revenue of $324,251 billion for the quarter, compared to the consensus estimate of $330.82 million. Penguin Solutions had a negative net margin of 0.68% and a positive return on equity of 13.27%. On average, sell-side analysts expect that Penguin Solutions, Inc. will post 1.05 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PENG shares. JPMorgan Chase & Co. upped their price target on shares of Penguin Solutions from $18.00 to $21.00 and gave the stock a "neutral" rating in a research report on Wednesday. Rosenblatt Securities restated a "buy" rating and set a $27.00 target price on shares of Penguin Solutions in a report on Thursday, July 3rd. JMP Securities reaffirmed a "market outperform" rating and set a $26.00 target price on shares of Penguin Solutions in a research report on Wednesday. Wall Street Zen lowered Penguin Solutions from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $27.00 price objective on shares of Penguin Solutions in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Penguin Solutions currently has a consensus rating of "Buy" and an average target price of $25.75.

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.