Amalgamated Bank Makes New Investment in Penguin Solutions, Inc. (NASDAQ:PENG)

Amalgamated Bank acquired a new position in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 15,195 shares of the company's stock, valued at approximately $264,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Crews Bank & Trust acquired a new position in shares of Penguin Solutions during the first quarter worth about $28,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Penguin Solutions during the first quarter worth about $188,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Penguin Solutions during the first quarter worth about $779,000.

Wall Street Analyst Weigh In

PENG has been the subject of a number of analyst reports. Wall Street Zen downgraded Penguin Solutions from a "strong-buy" rating to a "buy" rating in a report on Saturday. JPMorgan Chase & Co. increased their price target on Penguin Solutions from $18.00 to $21.00 and gave the company a "neutral" rating in a report on Wednesday. Needham & Company LLC reissued a "buy" rating and issued a $27.00 price target on shares of Penguin Solutions in a report on Wednesday. JMP Securities reissued a "market outperform" rating and issued a $26.00 price target on shares of Penguin Solutions in a report on Wednesday. Finally, The Goldman Sachs Group increased their price target on Penguin Solutions from $22.50 to $25.00 and gave the company a "buy" rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $25.75.

Penguin Solutions Trading Up 1.1%

Shares of NASDAQ PENG opened at $24.10 on Friday. The stock's 50 day moving average price is $19.50 and its two-hundred day moving average price is $19.03. Penguin Solutions, Inc. has a 52-week low of $14.20 and a 52-week high of $24.18. The stock has a market capitalization of $1.26 billion, a P/E 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 (NASDAQ:PENG - Get Free Report) last posted its earnings results on Tuesday, July 8th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.30 by $0.17. The company had revenue of $324,251 billion during the quarter, compared to analyst estimates of $330.82 million. Penguin Solutions had a positive return on equity of 13.27% and a negative net margin of 0.68%. On average, analysts anticipate that Penguin Solutions, Inc. will post 1.05 earnings per share for the current fiscal year.

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.

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