Allspring Global Investments Holdings LLC Takes $779,000 Position in Penguin Solutions, Inc. (NASDAQ:PENG)

Allspring Global Investments Holdings LLC bought a new position in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) in the first quarter, according to its most recent 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 as of its most recent SEC filing.

Separately, Crews Bank & Trust purchased a new position in shares of Penguin Solutions in the first quarter worth $28,000.

Penguin Solutions Trading Up 10.6%

Shares of PENG stock opened at $23.43 on Thursday. The stock has a 50 day simple moving average of $19.22 and a 200-day simple moving average of $18.97. Penguin Solutions, Inc. has a 1-year low of $14.20 and a 1-year high of $23.59. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -83.68 and a beta of 1.98. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.63 and a quick ratio of 2.21.

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, topping the consensus estimate of $0.30 by $0.17. Penguin Solutions had a positive return on equity of 14.12% and a negative net margin of 0.68%. The company had revenue of $324,251 billion for the quarter, compared to analysts' expectations of $330.82 million. On average, equities research analysts expect that Penguin Solutions, Inc. will post 1.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Rosenblatt Securities reissued a "buy" rating and issued a $27.00 target price on shares of Penguin Solutions in a research report on Thursday, July 3rd. Needham & Company LLC reissued a "buy" rating and issued a $27.00 price objective on shares of Penguin Solutions in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on Penguin Solutions from $18.00 to $21.00 and gave the stock a "neutral" rating in a research note on Wednesday. JMP Securities reiterated a "market outperform" rating and issued a $26.00 target price on shares of Penguin Solutions in a research report on Wednesday. Finally, Wall Street Zen raised shares of Penguin Solutions from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.