CSM Advisors LLC Makes New $11.91 Million Investment in Penguin Solutions, Inc. $PENG

CSM Advisors LLC purchased a new stake in shares of Penguin Solutions, Inc. (NASDAQ:PENG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 601,512 shares of the company’s stock, valued at approximately $11,913,000. CSM Advisors LLC owned about 1.15% of Penguin Solutions at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. IFP Advisors Inc acquired a new stake in Penguin Solutions in the 1st quarter valued at approximately $39,000. CWM LLC bought a new position in shares of Penguin Solutions in the first quarter worth $39,000. Virtus Advisers LLC acquired a new position in shares of Penguin Solutions during the first quarter valued at $43,000. UMB Bank n.a. bought a new stake in shares of Penguin Solutions during the second quarter valued at about $44,000. Finally, PNC Financial Services Group Inc. acquired a new stake in Penguin Solutions in the first quarter worth about $62,000.

Penguin Solutions Trading Up 0.4%

Shares of NASDAQ:PENG opened at $21.69 on Friday. 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 market capitalization of $1.15 billion, a price-to-earnings ratio of 74.80 and a beta of 2.20. Penguin Solutions, Inc. has a 1-year low of $14.20 and a 1-year high of $29.80. The company has a 50 day moving average price of $24.37 and a 200 day moving average price of $22.20.

Wall Street Analysts Forecast Growth

Several research firms have commented on PENG. Rosenblatt Securities reissued a “buy” rating and set a $30.00 target price on shares of Penguin Solutions in a research note on Tuesday, October 14th. Zacks Research cut shares of Penguin Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Loop Capital boosted their target price on Penguin Solutions from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, July 14th. JPMorgan Chase & Co. increased their price target on Penguin Solutions from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Finally, Stifel Nicolaus lifted their price target on Penguin Solutions from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Penguin Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

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.