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

New York State Teachers Retirement System bought a new position in shares of Penguin Solutions, Inc. (NASDAQ:PENG) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 14,262 shares of the company’s stock, valued at approximately $248,000.

A number of other institutional investors also recently bought and sold shares of PENG. Amalgamated Bank purchased a new stake in Penguin Solutions during the first quarter valued at about $264,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Penguin Solutions in the first quarter worth about $779,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Penguin Solutions during the first quarter worth approximately $188,000. Finally, Crews Bank & Trust bought a new stake in shares of Penguin Solutions in the 1st quarter worth about $28,000.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Penguin Solutions from $22.50 to $25.00 and gave the company a “buy” rating in a report on Wednesday. JMP Securities reiterated a “market outperform” rating and issued a $26.00 target price on shares of Penguin Solutions in a report on Wednesday. Wall Street Zen raised Penguin Solutions from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a research note on Thursday, July 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $27.00 target price on shares of Penguin Solutions in a report on Wednesday. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $25.75.

Penguin Solutions Price Performance

PENG stock opened at $23.83 on Friday. Penguin Solutions, Inc. has a 1 year low of $14.20 and a 1 year high of $23.98. 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 stock has a market cap of $1.25 billion, a price-to-earnings ratio of -85.10 and a beta of 1.98. The company has a 50 day simple moving average of $19.36 and a 200 day simple moving average of $19.00.

Penguin Solutions (NASDAQ:PENG) 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. Penguin Solutions had a positive return on equity of 13.27% and a negative net margin of 0.68%. The business had revenue of $324,251 billion during the quarter, compared to the consensus estimate of $330.82 million. Research analysts anticipate that Penguin Solutions, Inc. will post 1.05 EPS for the current fiscal 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.