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 ...