45,085 Shares in Penguin Solutions, Inc. (NASDAQ:PENG) Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC bought a new position in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 45,085 shares of the company's stock, valued at approximately $779,000. Allspring Global Investments Holdings LLC owned approximately 0.08% of Penguin Solutions at the end of the most recent reporting period.

Separately, Crews Bank & Trust purchased a new stake in shares of Penguin Solutions during the 1st quarter valued at approximately $28,000.

Penguin Solutions Trading Up 1.1%

NASDAQ PENG traded up $0.27 on Friday, reaching $24.10. The stock had a trading volume of 1,048,849 shares, compared to its average volume of 904,549. The stock has a fifty day moving average price of $19.50 and a two-hundred day moving average price of $19.03. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -86.07 and a beta of 1.98. The company has a quick ratio of 2.21, a current ratio of 2.62 and a debt-to-equity ratio of 1.08. Penguin Solutions, Inc. has a 12-month low of $14.20 and a 12-month high of $24.18.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 8th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.30 by $0.17. The business had revenue of $324,251 billion during 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%. As a group, sell-side analysts forecast that Penguin Solutions, Inc. will post 1.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PENG has been the topic of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Penguin Solutions from $22.50 to $25.00 and gave the company a "buy" rating in a research report on Wednesday. Needham & Company LLC reaffirmed a "buy" rating and set a $27.00 price target on shares of Penguin Solutions in a research report on Wednesday. JMP Securities reaffirmed a "market outperform" rating and set a $26.00 price target on shares of Penguin Solutions in a research report on Wednesday. Rosenblatt Securities reaffirmed a "buy" rating and set a $27.00 price target on shares of Penguin Solutions in a research report on Thursday, July 3rd. Finally, Wall Street Zen lowered shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a research report on Saturday. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Penguin Solutions currently has a consensus rating of "Buy" and a consensus target price of $25.75.

Penguin Solutions Company Profile

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.