New York State Teachers Retirement System bought a new position in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 14,262 shares of the company's stock, valued at approximately $248,000.
A number of other institutional investors also recently bought and sold shares of PENG. Amalgamated Bank purchased a new stake in Penguin Solutions during the first quarter valued at about $264,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Penguin Solutions in the first quarter worth about $779,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Penguin Solutions during the first quarter worth approximately $188,000. Finally, Crews Bank & Trust bought a new stake in shares of Penguin Solutions in the 1st quarter worth about $28,000.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Penguin Solutions from $22.50 to $25.00 and gave the company a "buy" rating in a report on Wednesday. JMP Securities reiterated a "market outperform" rating and issued a $26.00 target price on shares of Penguin Solutions in a report on Wednesday. Wall Street Zen raised Penguin Solutions from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $27.00 price objective on shares of Penguin Solutions in a research note on Thursday, July 3rd. Finally, Needham & Company LLC restated a "buy" rating and set a $27.00 target price on shares of Penguin Solutions in a report on Wednesday. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $25.75.
Check Out Our Latest Stock Report on Penguin Solutions
Penguin Solutions Price Performance
PENG stock opened at $23.83 on Friday. Penguin Solutions, Inc. has a 1 year low of $14.20 and a 1 year high of $23.98. 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 cap of $1.25 billion, a price-to-earnings ratio of -85.10 and a beta of 1.98. The company has a 50 day simple moving average of $19.36 and a 200 day simple moving average of $19.00.
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 for the quarter, beating analysts' consensus estimates of $0.30 by $0.17. Penguin Solutions had a positive return on equity of 13.27% and a negative net margin of 0.68%. The business had revenue of $324,251 billion during the quarter, compared to the consensus estimate of $330.82 million. Research analysts anticipate that Penguin Solutions, Inc. will post 1.05 EPS for the current fiscal year.
About Penguin Solutions
(
Free Report)
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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