New York State Teachers Retirement System Invests $248,000 in Penguin Solutions, Inc. (NASDAQ:PENG)

New York State Teachers Retirement System bought a new stake in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,262 shares of the company's stock, valued at approximately $248,000.

Several other hedge funds have also recently added to or reduced their stakes in PENG. Crews Bank & Trust acquired a new stake in Penguin Solutions during the first quarter worth approximately $28,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Penguin Solutions during the first quarter worth approximately $188,000. Amalgamated Bank acquired a new stake in Penguin Solutions during the first quarter worth approximately $264,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Penguin Solutions during the first quarter worth approximately $779,000.

Analyst Upgrades and Downgrades

PENG has been the topic of a number of research analyst reports. Needham & Company LLC reissued a "buy" rating and set a $27.00 price objective on shares of Penguin Solutions in a report on Wednesday, July 9th. JMP Securities restated a "market outperform" rating and set a $26.00 target price on shares of Penguin Solutions in a research report on Wednesday, July 9th. Rosenblatt Securities restated a "buy" rating and set a $27.00 target price on shares of Penguin Solutions in a research report on Thursday, July 3rd. The Goldman Sachs Group raised their target price on shares of Penguin Solutions from $22.50 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Wall Street Zen lowered shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a research report on Saturday. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $26.38.

Penguin Solutions Stock Performance

NASDAQ:PENG traded up $0.60 during midday trading on Monday, reaching $24.70. The stock had a trading volume of 1,380,682 shares, compared to its average volume of 907,138. The firm has a fifty day simple moving average of $19.50 and a two-hundred day simple moving average of $19.02. Penguin Solutions, Inc. has a 12-month low of $14.20 and a 12-month high of $24.83. The company has a quick ratio of 2.24, a current ratio of 2.62 and a debt-to-equity ratio of 1.08. The stock has a market cap of $1.29 billion, a P/E ratio of -88.21 and a beta of 1.98.

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. The firm had revenue of $324,251 billion for the quarter, compared to analyst estimates of $330.82 million. Penguin Solutions had a negative net margin of 0.68% and a positive return on equity of 13.27%. On average, equities analysts expect that Penguin Solutions, Inc. will post 1.05 EPS for the current year.

About Penguin Solutions

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.