Adage Capital Partners GP L.L.C. Makes New $6.30 Million Investment in Ingram Micro Holding Corp. (NYSE:INGM)

Adage Capital Partners GP L.L.C. bought a new position in Ingram Micro Holding Corp. (NYSE:INGM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 325,000 shares of the company's stock, valued at approximately $6,302,000. Adage Capital Partners GP L.L.C. owned about 0.14% of Ingram Micro at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of INGM. Capital World Investors bought a new stake in shares of Ingram Micro during the 4th quarter valued at about $68,295,000. Victory Capital Management Inc. bought a new stake in Ingram Micro during the 4th quarter valued at approximately $53,532,000. JPMorgan Chase & Co. purchased a new position in shares of Ingram Micro during the 4th quarter worth approximately $37,793,000. American Century Companies Inc. bought a new position in shares of Ingram Micro in the 4th quarter worth approximately $36,268,000. Finally, Wellington Management Group LLP purchased a new position in shares of Ingram Micro in the 4th quarter valued at approximately $26,969,000.

Ingram Micro Stock Up 3.1 %

Ingram Micro stock traded up $0.56 during midday trading on Friday, reaching $18.53. 207,585 shares of the company traded hands, compared to its average volume of 429,877. Ingram Micro Holding Corp. has a 12 month low of $14.25 and a 12 month 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 $18.03.

Ingram Micro (NYSE:INGM - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.01. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $13.21 billion. Research analysts anticipate that Ingram Micro Holding Corp. will post 2.71 EPS for the current year.

Ingram Micro Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.074 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.60%.

Ingram Micro declared that its board has initiated a share repurchase program on Tuesday, March 4th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 1.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

INGM has been the subject of a number of research reports. Raymond James decreased their price objective on Ingram Micro from $28.00 to $26.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. Jefferies Financial Group dropped their price objective on shares of Ingram Micro from $28.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday, March 25th. The Goldman Sachs Group cut their price objective on shares of Ingram Micro from $33.00 to $29.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Loop Capital dropped their price target on Ingram Micro from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. Finally, Morgan Stanley reduced their price objective on Ingram Micro from $27.00 to $26.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Ingram Micro presently has an average rating of "Moderate Buy" and an average price target of $26.21.

About Ingram Micro

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.