Penguin Solutions, Inc. (NASDAQ:PENG) Receives Consensus Rating of “Moderate Buy” from Analysts

Penguin Solutions, Inc. (NASDAQ:PENG) has been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $28.00.

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on Penguin Solutions from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Zacks Research lowered shares of Penguin Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Wall Street Zen downgraded shares of Penguin Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Needham & Company LLC boosted their price target on Penguin Solutions from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. upped their price target on Penguin Solutions from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th.

Penguin Solutions Stock Performance

Shares of PENG opened at $21.69 on Friday. The stock has a market capitalization of $1.15 billion, a P/E ratio of 74.80 and a beta of 2.20. Penguin Solutions has a 1 year low of $14.20 and a 1 year high of $29.80. The company’s fifty day moving average is $24.37 and its two-hundred day moving average is $22.15. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.71 and a current ratio of 2.25.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. purchased a new stake in shares of Penguin Solutions in the 1st quarter worth about $111,458,000. Alliancebernstein L.P. acquired a new position in Penguin Solutions during the first quarter worth about $28,919,000. Paradigm Capital Management Inc. NY acquired a new position in Penguin Solutions during the first quarter worth about $19,545,000. Think Investments LP purchased a new stake in shares of Penguin Solutions in the first quarter valued at about $15,713,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Penguin Solutions in the first quarter valued at 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.