New York State Teachers Retirement System Buys Shares of 14,262 Penguin Solutions, Inc. (NASDAQ:PENG)

New York State Teachers Retirement System acquired a new stake in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 14,262 shares of the company's stock, valued at approximately $248,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Amalgamated Bank purchased a new position in shares of Penguin Solutions in the 1st quarter valued at $264,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Penguin Solutions in the 1st quarter valued at $779,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Penguin Solutions in the 1st quarter valued at $188,000. Finally, Crews Bank & Trust purchased a new position in shares of Penguin Solutions in the 1st quarter valued at $28,000.

Analysts Set New Price Targets

PENG has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their target price on shares of Penguin Solutions from $22.50 to $25.00 and gave the company a "buy" rating in a research report on Wednesday. JMP Securities reaffirmed a "market outperform" rating and issued a $26.00 target price on shares of Penguin Solutions in a research report on Wednesday. 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. Rosenblatt Securities reissued a "buy" rating and set a $27.00 price objective on shares of Penguin Solutions in a research report on Thursday, July 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Penguin Solutions from $18.00 to $21.00 and gave the stock a "neutral" rating in a research report on Wednesday. One analyst has rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Penguin Solutions presently has a consensus rating of "Buy" and a consensus target price of $25.75.

Penguin Solutions Stock Performance

Penguin Solutions stock traded up $0.27 during midday trading on Friday, hitting $24.10. 1,048,849 shares of the company's stock were exchanged, compared to its average volume of 904,548. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -86.07 and a beta of 1.98. The firm's 50 day simple moving average is $19.36 and its 200 day simple moving average is $19.00. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.21 and a current ratio of 2.62. 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 issued its quarterly earnings results on Tuesday, July 8th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.17. Penguin Solutions had a negative net margin of 0.68% and a positive return on equity of 13.27%. The business had revenue of $324,251 billion for the quarter, compared to analyst estimates of $330.82 million. Equities research analysts predict that Penguin Solutions, Inc. will post 1.05 EPS for the current 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.