Penguin Solutions, Inc. (NASDAQ:PENG) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Penguin Solutions, Inc. (NASDAQ:PENG) have earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $28.00.

Several research analysts have recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and set a $30.00 price target on shares of Penguin Solutions in a report on Tuesday, October 14th. Loop Capital lifted their target price on shares of Penguin Solutions from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Stifel Nicolaus increased their price target on shares of Penguin Solutions from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Weiss Ratings upgraded shares of Penguin Solutions from a “sell (d-)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $26.00 price objective on shares of Penguin Solutions in a report on Wednesday, October 8th.

Penguin Solutions Price Performance

NASDAQ:PENG opened at $21.69 on Friday. Penguin Solutions has a one year low of $14.20 and a one year high of $29.80. The stock has a market cap of $1.15 billion, a PE ratio of 74.80 and a beta of 2.20. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.71 and a current ratio of 2.25. The stock has a 50 day moving average price of $24.37 and a 200 day moving average price of $22.15.

Hedge Funds Weigh In On Penguin Solutions

Hedge funds have recently made changes to their positions in the stock. New York State Teachers Retirement System purchased a new position in Penguin Solutions in the first quarter valued at $248,000. Cambridge Investment Research Advisors Inc. acquired a new position in Penguin Solutions in the first quarter valued at approximately $188,000. Nordea Investment Management AB purchased a new position in shares of Penguin Solutions in the 2nd quarter valued at $2,851,000. Principal Financial Group Inc. purchased a new position in shares of Penguin Solutions during the first quarter worth about $4,608,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Penguin Solutions during the 1st quarter worth approximately $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.