Wall Street Zen Downgrades Penguin Solutions (NASDAQ:PENG) to Buy

Penguin Solutions (NASDAQ:PENG - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

PENG has been the topic of a number of other research reports. Rosenblatt Securities reiterated a "buy" rating and set a $27.00 target price on shares of Penguin Solutions in a research report on Thursday, July 3rd. JPMorgan Chase & Co. boosted their target price on shares of Penguin Solutions from $18.00 to $21.00 and gave the company a "neutral" rating in a research report on Wednesday. The Goldman Sachs Group boosted 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 restated a "market outperform" rating and set a $26.00 price objective on shares of Penguin Solutions in a report on Wednesday. Finally, Needham & Company LLC restated a "buy" rating and set a $27.00 price objective on shares of Penguin Solutions in a report on Wednesday. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $25.75.

Penguin Solutions Trading Up 1.1%

Shares of NASDAQ:PENG traded up $0.27 during trading on Friday, reaching $24.10. The stock had a trading volume of 1,048,849 shares, compared to its average volume of 904,549. The firm's fifty day moving average is $19.50 and its 200 day moving average is $19.03. 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 has a 52 week low of $14.20 and a 52 week high of $24.18. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -86.07 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 EPS for the quarter, beating 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 company had revenue of $324,251 billion for the quarter, compared to analyst estimates of $330.82 million. As a group, equities analysts forecast that Penguin Solutions will post 1.05 EPS for the current fiscal year.

Institutional Trading of Penguin Solutions

Several institutional investors and hedge funds have recently made changes to their positions in PENG. Vanguard Group Inc. purchased a new stake in shares of Penguin Solutions in the first quarter valued at about $111,458,000. Alliancebernstein L.P. purchased a new stake in shares of Penguin Solutions in the first quarter valued at about $28,919,000. Paradigm Capital Management Inc. NY bought a new position in Penguin Solutions during the first quarter valued at about $19,545,000. Think Investments LP bought a new position in Penguin Solutions during the first quarter valued at about $15,713,000. Finally, Charles Schwab Investment Management Inc. bought a new position in Penguin Solutions during the first quarter valued at about $14,786,000.

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.