Cambridge Investment Research Advisors Inc. Makes New $188,000 Investment in Penguin Solutions, Inc. (NASDAQ:PENG)

Cambridge Investment Research Advisors Inc. purchased a new position in shares of Penguin Solutions, Inc. (NASDAQ:PENGFree Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,800 shares of the company’s stock, valued at approximately $188,000.

Separately, Crews Bank & Trust acquired a new position in shares of Penguin Solutions during the 1st quarter valued at about $28,000.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. The Goldman Sachs Group boosted their target price on Penguin Solutions from $22.50 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. 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, July 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $26.00 target price on shares of Penguin Solutions in a research report on Wednesday, July 9th. JPMorgan Chase & Co. raised their price target on Penguin Solutions from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, July 9th. Finally, Wall Street Zen cut Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $26.38.

Get Our Latest Analysis on PENG

Penguin Solutions Stock Up 2.5%

Shares of PENG opened at $24.70 on Tuesday. The stock has a fifty day moving average of $19.50 and a 200-day moving average of $19.02. Penguin Solutions, Inc. has a 52 week low of $14.20 and a 52 week high of $24.83. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.24 and a current ratio of 2.62. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -88.21 and a beta of 1.98.

Penguin Solutions (NASDAQ:PENGGet Free Report) last posted its quarterly earnings data on Tuesday, July 8th. The company reported $0.47 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $330.82 million. As a group, sell-side analysts anticipate that Penguin Solutions, Inc. will post 1.05 earnings per share for the current fiscal year.

Penguin Solutions Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Penguin Solutions (NASDAQ:PENG)

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