Nordea Investment Management AB Invests $2.85 Million in Penguin Solutions, Inc. $PENG

Nordea Investment Management AB acquired a new position in Penguin Solutions, Inc. (NASDAQ:PENG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 140,498 shares of the company’s stock, valued at approximately $2,851,000. Nordea Investment Management AB owned approximately 0.27% of Penguin Solutions at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PENG. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Penguin Solutions in the 1st quarter worth about $188,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Penguin Solutions in the 1st quarter worth about $779,000. Amalgamated Bank purchased a new stake in Penguin Solutions during the 1st quarter valued at about $264,000. New York State Teachers Retirement System purchased a new stake in Penguin Solutions during the 1st quarter valued at about $248,000. Finally, Peregrine Capital Management LLC purchased a new stake in Penguin Solutions during the 1st quarter valued at about $4,616,000.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PENG shares. JPMorgan Chase & Co. increased their target price on Penguin Solutions from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. JMP Securities restated a “market outperform” rating and set a $26.00 target price on shares of Penguin Solutions in a report on Wednesday, October 8th. Needham & Company LLC increased their target price on Penguin Solutions from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Stifel Nicolaus increased their target price on Penguin Solutions from $27.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Penguin Solutions in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Penguin Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Penguin Solutions Trading Down 1.5%

PENG opened at $21.53 on Thursday. The business has a 50 day simple moving average of $24.83 and a two-hundred day simple moving average of $21.61. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 74.24 and a beta of 2.20. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.25 and a quick ratio of 1.71. Penguin Solutions, Inc. has a one year low of $14.20 and a one year high of $29.80.

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.