Penguin Solutions (NASDAQ:PENG) Given Market Outperform Rating at JMP Securities

Penguin Solutions (NASDAQ:PENG - Get Free Report)'s stock had its "market outperform" rating reiterated by equities research analysts at JMP Securities in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $26.00 price target on the stock. JMP Securities' target price indicates a potential upside of 7.88% from the company's current price.

PENG has been the topic of a number of other research reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $27.00 target price on shares of Penguin Solutions in a research note on Thursday, July 3rd. 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. The Goldman Sachs Group lowered their price target on shares of Penguin Solutions from $26.00 to $22.50 and set a "buy" rating for the company in a research report on Thursday, April 3rd. JPMorgan Chase & Co. began coverage on shares of Penguin Solutions in a research report on Monday, March 31st. They set a "neutral" rating and a $20.00 price target for the company. Finally, Needham & Company LLC reissued a "buy" rating and set a $27.00 price target on shares of Penguin Solutions in a research report on Wednesday. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $25.75.

Penguin Solutions Trading Up 1.1%

Penguin Solutions stock traded up $0.27 during trading hours on Wednesday, reaching $24.10. The stock had a trading volume of 1,048,849 shares, compared to its average volume of 904,549. The stock has a market cap of $1.26 billion, a PE ratio of -86.07 and a beta of 1.98. Penguin Solutions has a 52 week low of $14.20 and a 52 week high of $24.18. 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 company has a fifty day simple moving average of $19.50 and a 200-day simple moving average of $19.03.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last announced its earnings results 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%. Analysts forecast that Penguin Solutions will post 1.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Crews Bank & Trust purchased a new position in shares of Penguin Solutions during the first quarter valued at approximately $28,000. IFP Advisors Inc bought a new stake in Penguin Solutions during the first quarter valued at approximately $39,000. CWM LLC bought a new stake in Penguin Solutions during the first quarter valued at approximately $39,000. Virtus Advisers LLC bought a new stake in Penguin Solutions during the first quarter valued at approximately $43,000. Finally, UMB Bank n.a. bought a new stake in Penguin Solutions during the second quarter valued at approximately $44,000.

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.