Ingram Micro Holding Corporation (NYSE:INGM – Get Free Report) saw unusually-strong trading volume on Tuesday. 2,235,096 shares changed hands during mid-day trading, an increase of 66% from the average daily volume of 1,345,419 shares. The stock last traded at $26.08 and had previously closed at $26.98.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on INGM. Truist Financial boosted their target price on Ingram Micro from $29.00 to $31.00 and gave the stock a “hold” rating in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ingram Micro in a research report on Monday, August 31st. They set a “hold” rating and a $30.00 target price on the stock. The Goldman Sachs Group restated a “neutral” rating and set a $33.00 target price on shares of Ingram Micro in a research note on Friday, July 31st. Morgan Stanley dropped their price objective on shares of Ingram Micro from $33.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 16th. Finally, Zacks Research downgraded Ingram Micro from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.50.
Get Our Latest Research Report on Ingram Micro
Ingram Micro Price Performance
The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 1.31. The business’s 50 day simple moving average is $27.57 and its 200-day simple moving average is $26.35. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 0.73 and a beta of 1.69.
Ingram Micro (NYSE:INGM – Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.13. Ingram Micro had a return on equity of 18.07% and a net margin of 0.77%. The company had revenue of $15.22 billion during the quarter, compared to the consensus estimate of $13.83 billion. During the same period last year, the business earned $0.72 EPS. Research analysts anticipate that Ingram Micro Holding Corporation will post 3.45 earnings per share for the current year.
Ingram Micro Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 9th will be paid a $0.0880 dividend. This is a boost from Ingram Micro’s previous quarterly dividend of $0.0860. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, November 9th. Ingram Micro’s payout ratio is presently 17.68%.
Insider Buying and Selling at Ingram Micro
In other news, major shareholder Platinum Equity, Llc sold 1,968,750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $27.19, for a total transaction of $53,530,312.50. Following the completion of the transaction, the insider directly owned 162,372,569 shares of the company’s stock, valued at $4,414,910,151.11. This trade represents a 1.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.95% of the stock is owned by company insiders.
Institutional Investors Weigh In On Ingram Micro
A number of hedge funds have recently added to or reduced their stakes in INGM. Allworth Financial LP purchased a new position in Ingram Micro during the 2nd quarter valued at $35,000. Integrated Wealth Concepts LLC bought a new stake in shares of Ingram Micro during the second quarter valued at approximately $38,000. Royal Bank of Canada raised its position in Ingram Micro by 252.2% in the 1st quarter. Royal Bank of Canada now owns 1,472 shares of the company’s stock worth $34,000 after buying an additional 1,054 shares during the last quarter. Reyes Financial Architecture Inc. purchased a new position in shares of Ingram Micro in the 3rd quarter worth $43,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Ingram Micro during the 2nd quarter valued at about $44,000.
About Ingram Micro
Ingram Micro Inc is a global technology distribution and services company that connects technology manufacturers with businesses, resellers, systems integrators and other channel partners. Its portfolio includes hardware, software, cloud solutions, cybersecurity products, networking equipment, data-center technologies and communications solutions.
The company also provides value-added services such as cloud marketplace management, device lifecycle services, logistics, fulfillment, financing support, technical assistance and professional services.
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