Bank of America Corp DE Takes Position in Ingram Micro Holding Corp. (NYSE:INGM)

Bank of America Corp DE bought a new stake in shares of Ingram Micro Holding Corp. (NYSE:INGM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 91,995 shares of the company’s stock, valued at approximately $1,784,000.

Several other large investors have also recently bought and sold shares of INGM. Wells Fargo & Company MN acquired a new position in Ingram Micro during the fourth quarter valued at $45,000. Cohen & Steers Inc. acquired a new position in Ingram Micro during the fourth quarter valued at $48,000. Tower Research Capital LLC TRC acquired a new position in Ingram Micro during the fourth quarter valued at $52,000. Russell Investments Group Ltd. acquired a new position in Ingram Micro during the fourth quarter valued at $120,000. Finally, Rhumbline Advisers acquired a new position in Ingram Micro during the fourth quarter valued at $171,000.

Ingram Micro Price Performance

INGM opened at $19.30 on Wednesday. Ingram Micro Holding Corp. has a fifty-two week low of $14.25 and a fifty-two week high of $25.69. The business has a 50-day moving average of $18.01 and a 200-day moving average of $20.25. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93.

Ingram Micro (NYSE:INGM) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.01. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $13.21 billion. Equities research analysts anticipate that Ingram Micro Holding Corp. will post 2.71 EPS for the current year.

Ingram Micro Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th were issued a dividend of $0.076 per share. This is a positive change from Ingram Micro’s previous quarterly dividend of $0.07. The ex-dividend date was Tuesday, May 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.58%.

Ingram Micro declared that its Board of Directors has approved a share buyback plan on Tuesday, March 4th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms recently weighed in on INGM. The Goldman Sachs Group dropped their price target on Ingram Micro from $29.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Evercore ISI dropped their price target on Ingram Micro from $27.00 to $26.00 and set an “in-line” rating on the stock in a research report on Wednesday, March 5th. JPMorgan Chase & Co. upped their price target on Ingram Micro from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Raymond James dropped their price target on Ingram Micro from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Finally, Morgan Stanley upped their price target on Ingram Micro from $18.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.79.

Ingram Micro Company Profile

Ingram Micro is a leading solutions provider by revenue for the global information technology (“IT”) ecosystem helping power the world’s leading technology brands. With our vast infrastructure and focus on client and endpoint solutions (formerly referred to as commercial & consumer, as described elsewhere in this prospectus), advanced solutions offerings and cloud-based solutions, we enable our business partners to scale and operate more efficiently in the markets they serve.