Yousif Capital Management LLC Purchases Shares of 19,577 Penguin Solutions, Inc. $PENG

Key Points

• Yousif Capital Management LLC has acquired 19,577 shares of Penguin Solutions, Inc. for approximately $388,000 during the second quarter.
• Multiple institutions, including IFP Advisors Inc. and PNC Financial Services Group Inc., have also recently invested in Penguin Solutions, indicating growing institutional interest in the company.
• Brokerages have raised their target prices on Penguin Solutions, with Needham & Company LLC setting a new target of $30.00 and the consensus rating currently being a "Moderate Buy".

Yousif Capital Management LLC purchased a new position in shares of Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 19,577 shares of the company's stock, valued at approximately $388,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc acquired a new stake in Penguin Solutions in the 1st quarter worth approximately $39,000. CWM LLC purchased a new position in shares of Penguin Solutions in the first quarter worth $39,000. Virtus Advisers LLC acquired a new stake in shares of Penguin Solutions during the first quarter worth $43,000. UMB Bank n.a. acquired a new stake in shares of Penguin Solutions during the second quarter worth $44,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Penguin Solutions during the first quarter valued at $62,000.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PENG. Needham & Company LLC raised their target price on Penguin Solutions from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group raised their price objective on Penguin Solutions from $22.50 to $25.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. lifted their target price on Penguin Solutions from $21.00 to $24.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. JMP Securities reiterated a "market outperform" rating and issued a $26.00 price target on shares of Penguin Solutions in a report on Wednesday, October 8th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Penguin Solutions in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.00.

Penguin Solutions Stock Up 0.9%

Penguin Solutions stock opened at $21.73 on Friday. The business's 50-day moving average price is $24.79 and its 200 day moving average price is $21.65. The company has a quick ratio of 1.71, a current ratio of 2.25 and a debt-to-equity ratio of 1.09. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 74.93 and a beta of 2.20. Penguin Solutions, Inc. has a 52 week low of $14.20 and a 52 week high of $29.80.

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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