Penguin Solutions, Inc. (NASDAQ:PENG) is one of the small-cap tech stocks hedge funds were buying in Q2.
On October 1, 2025, Rosenblatt Securities reiterated its Buy rating on Penguin Solutions and raised its 12-month price target from $27 to $36. A week later, on October 8, the firm maintained its Buy rating but revised the price target downward to $30. According to reports, Rosenblatt’s valuation update reflected shifting expectations around memory pricing trends and near-term hardware order timing from major customers such as Meta Platforms.
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The analyst reportedly sees strength in memory demand and continues to view Penguin’s positioning in enterprise AI infrastructure as a long-term growth lever. On October 14, Rosenblatt reaffirmed its Buy rating with the revised $30 target.
Penguin Solutions, Inc. is a California-based technology company providing high-performance computing and AI infrastructure solutions across enterprise, cloud, and government sectors.
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