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

Allspring Global Investments Holdings LLC bought a new stake in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 quarter.

Separately, Crews Bank & Trust acquired a new position in shares of Penguin Solutions in the 1st quarter valued at $28,000.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Penguin Solutions from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. upped their target price on shares of Penguin Solutions from $18.00 to $21.00 and gave the company a "neutral" rating in a report on Wednesday. JMP Securities restated a "market outperform" rating and issued a $26.00 target price on shares of Penguin Solutions in a report on Wednesday. The Goldman Sachs Group upped their target price on shares of Penguin Solutions from $22.50 to $25.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $27.00 price target on shares of Penguin Solutions in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $25.75.

Penguin Solutions Stock Performance

PENG stock traded up $0.10 on Friday, hitting $23.93. The company's stock had a trading volume of 349,955 shares, compared to its average volume of 853,730. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -85.47 and a beta of 1.98. The company has a current ratio of 2.62, a quick ratio of 2.21 and a debt-to-equity ratio of 1.08. Penguin Solutions, Inc. has a 1 year low of $14.20 and a 1 year high of $29.81. The firm has a 50 day moving average of $19.36 and a two-hundred day moving average of $19.00.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 8th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.17. The company 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%. Equities analysts predict that Penguin Solutions, Inc. will post 1.05 EPS for the current fiscal year.

Penguin Solutions 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.