690,501 Shares of Ingram Micro Holding Corporation $INGM Bought by Bank of America Corp DE

Key Points

• Bank of America purchased 690,501 Ingram Micro shares worth approximately $18.94 million, representing about 0.30% of the company. Several other institutional investors also initiated or increased positions.
• Ingram Micro exceeded quarterly expectations, reporting $0.82 EPS versus the $0.74 consensus and $14.53 billion in revenue versus estimates of $13.85 billion. The company issued third-quarter EPS guidance of $0.72–$0.82.
• The company raised its quarterly dividend to $0.086 per share, or $0.34 annually, for a 1.3% yield. Analysts maintain a consensus “Hold” rating with a $30.50 price target, while shares recently traded at $26.36.

Bank of America Corp DE purchased a new stake in shares of Ingram Micro Holding Corporation (NYSE:INGM - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 690,501 shares of the company's stock, valued at approximately $18,940,000. Bank of America Corp DE owned about 0.30% of Ingram Micro as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of INGM. Pacer Advisors Inc. bought a new position in Ingram Micro in the 1st quarter valued at $3,907,000. Watershed Asset Management L.L.C. purchased a new stake in shares of Ingram Micro during the 1st quarter worth approximately $470,000. GSA Capital Partners LLP bought a new stake in shares of Ingram Micro in the 2nd quarter worth approximately $1,397,000. Sei Investments Co. raised its holdings in shares of Ingram Micro by 73.8% in the 1st quarter. Sei Investments Co. now owns 88,762 shares of the company's stock worth $2,069,000 after purchasing an additional 37,680 shares during the period. Finally, Amundi purchased a new position in Ingram Micro in the first quarter valued at approximately $1,668,000.

Ingram Micro Stock Performance

Shares of INGM opened at $26.36 on Friday. Ingram Micro Holding Corporation has a 12-month low of $19.03 and a 12-month high of $31.69. The company has a current ratio of 1.31, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60. The company has a market cap of $6.08 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 0.70 and a beta of 1.74. The stock has a 50-day moving average price of $28.16 and a 200-day moving average price of $27.35.

Ingram Micro (NYSE:INGM - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.08. Ingram Micro had a net margin of 0.77% and a return on equity of 18.07%. The business had revenue of $14.53 billion during the quarter, compared to analyst estimates of $13.85 billion. Ingram Micro has set its Q3 2026 guidance at 0.720-0.820 EPS. As a group, equities analysts forecast that Ingram Micro Holding Corporation will post 3.4 earnings per share for the current fiscal year.

Ingram Micro Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were paid a $0.0860 dividend. This is an increase from Ingram Micro's previous quarterly dividend of $0.0840. This represents a $0.34 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, August 11th. Ingram Micro's payout ratio is currently 18.58%.

Insider Buying and Selling

In other Ingram Micro news, major shareholder Platinum Equity, Llc sold 1,968,750 shares of the 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 transaction, the insider directly owned 162,372,569 shares in the company, valued at $4,414,910,151.11. This trade represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.95% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $33.00 price target on shares of Ingram Micro in a research report on Friday, July 31st. Wall Street Zen downgraded shares of Ingram Micro from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 16th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ingram Micro in a research note on Monday, August 31st. They issued a "hold" rating and a $30.00 target price for the company. Morgan Stanley lowered their price target on shares of Ingram Micro from $33.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Wednesday, September 16th. Finally, Weiss Ratings upgraded Ingram Micro from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, September 8th. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $30.50.

Ingram Micro Profile

Ingram Micro Inc is a global technology distributor and provider of technology services. The company connects technology manufacturers with businesses, resellers, systems integrators, managed service providers and other channel partners. Its offerings span cloud and platform services, cybersecurity, data center and infrastructure products, networking, endpoint devices, software, peripherals and other information technology solutions.

In addition to distributing products, Ingram Micro provides logistics, supply-chain management, financing, configuration, integration, lifecycle management and professional services.

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