Walleye Capital LLC Purchases New Stake in Ingram Micro Holding Corp. (NYSE:INGM)

Walleye Capital LLC purchased a new stake in shares of Ingram Micro Holding Corp. (NYSE:INGM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 85,107 shares of the company's stock, valued at approximately $1,650,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. purchased a new stake in Ingram Micro during the 4th quarter worth $53,532,000. JPMorgan Chase & Co. purchased a new stake in shares of Ingram Micro in the fourth quarter worth about $37,793,000. American Century Companies Inc. purchased a new stake in shares of Ingram Micro during the 4th quarter valued at about $36,268,000. Wellington Management Group LLP acquired a new position in Ingram Micro during the 4th quarter worth approximately $26,969,000. Finally, Norges Bank purchased a new position in Ingram Micro in the 4th quarter worth approximately $26,190,000.

Analysts Set New Price Targets

A number of research firms recently weighed in on INGM. JPMorgan Chase & Co. lowered their price target on shares of Ingram Micro from $26.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Raymond James lowered their target price on Ingram Micro from $28.00 to $26.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. The Goldman Sachs Group lowered their price objective on Ingram Micro from $33.00 to $29.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Jefferies Financial Group reduced their target price on Ingram Micro from $28.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Finally, Evercore ISI cut their target price on shares of Ingram Micro from $27.00 to $26.00 and set an "in-line" rating on the stock in a research note on Wednesday, March 5th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $26.21.

Ingram Micro Stock Performance

Shares of Ingram Micro stock traded up $0.95 during midday trading on Thursday, hitting $17.70. The company's stock had a trading volume of 295,959 shares, compared to its average volume of 438,477. Ingram Micro Holding Corp. has a 1-year low of $14.25 and a 1-year high of $25.69. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93. The company's 50-day simple moving average is $18.78.

Ingram Micro (NYSE:INGM - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate 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. On average, sell-side analysts anticipate that Ingram Micro Holding Corp. will post 2.71 EPS for the current fiscal year.

Ingram Micro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were given a $0.074 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Tuesday, March 11th.

Ingram Micro declared that its board has approved a share repurchase program on Tuesday, March 4th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to reacquire up to 1.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

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.