Hsbc Holdings PLC Buys Shares of 135,115 Ingram Micro Holding Corporation $INGM

Key Points

• Hsbc Holdings PLC acquired 135,115 Ingram Micro shares worth approximately $3.69 million, representing about 0.06% of the company.
• Analyst sentiment remains mixed: four analysts rate the stock a Buy and six rate it a Hold, producing an overall Hold consensus and an average price target of $30.88.
• Ingram Micro exceeded quarterly earnings and revenue expectations, reporting $0.82 in EPS and $14.53 billion in revenue, while raising its quarterly dividend to $0.086 per share. Major shareholder Platinum Equity separately sold about $150 million of stock.

Hsbc Holdings PLC bought a new stake in Ingram Micro Holding Corporation (NYSE:INGM - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 135,115 shares of the company's stock, valued at approximately $3,690,000. Hsbc Holdings PLC owned approximately 0.06% of Ingram Micro at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Royal Bank of Canada increased its stake in Ingram Micro by 252.2% in the first quarter. Royal Bank of Canada now owns 1,472 shares of the company's stock valued at $34,000 after acquiring an additional 1,054 shares during the last quarter. Allworth Financial LP bought a new stake in Ingram Micro during the second quarter worth $35,000. Meeder Asset Management Inc. acquired a new stake in shares of Ingram Micro in the 2nd quarter valued at $44,000. Comerica Bank increased its stake in shares of Ingram Micro by 2,844.2% in the 3rd quarter. Comerica Bank now owns 3,798 shares of the company's stock valued at $82,000 after purchasing an additional 3,669 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Ingram Micro by 33.2% in the 4th quarter. Wells Fargo & Company MN now owns 4,136 shares of the company's stock valued at $88,000 after purchasing an additional 1,031 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on INGM shares. Weiss Ratings raised Ingram Micro from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday. Morgan Stanley boosted their target price on Ingram Micro from $27.50 to $33.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft began coverage on shares of Ingram Micro in a research note on Monday, August 31st. They issued a "hold" rating and a $30.00 price target on the stock. JPMorgan Chase & Co. raised shares of Ingram Micro from an "underweight" rating to a "neutral" rating and set a $27.00 price target on the stock in a report on Wednesday, May 27th. Finally, Zacks Research downgraded shares of 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 company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $30.88.

Insider Buying and Selling

In related news, VP Augusto Aragone sold 10,000 shares of Ingram Micro stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the vice president directly owned 140,465 shares of the company's stock, valued at $4,213,950. The trade was a 6.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Platinum Equity, Llc sold 5,167,069 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $29.03, for a total transaction of $150,000,013.07. Following the sale, the insider directly owned 177,466,319 shares of the company's stock, valued at $5,151,847,240.57. This represents a 2.83% decrease in their position. The SEC filing for this sale provides additional information. 0.95% of the stock is owned by insiders.

Ingram Micro Stock Up 0.6%

NYSE:INGM opened at $26.43 on Friday. Ingram Micro Holding Corporation has a one year low of $19.03 and a one year high of $31.69. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.31 and a quick ratio of 0.88. The company has a market cap of $6.10 billion, a PE ratio of 14.44, a P/E/G ratio of 0.68 and a beta of 1.74. The firm's 50 day simple moving average is $28.39 and its 200 day simple moving average is $27.03.

Ingram Micro (NYSE:INGM - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.08. The company had revenue of $14.53 billion for the quarter, compared to analysts' expectations of $13.85 billion. Ingram Micro had a net margin of 0.77% and a return on equity of 18.07%. Ingram Micro has set its Q3 2026 guidance at 0.720-0.820 EPS. On average, research analysts anticipate that Ingram Micro Holding Corporation will post 3.37 earnings per share for the current year.

Ingram Micro Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were given a dividend of $0.086 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 1.3%. This is a positive change from Ingram Micro's previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, August 11th. Ingram Micro's dividend payout ratio is 18.58%.

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.

Want to see what other hedge funds are holding INGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingram Micro Holding Corporation (NYSE:INGM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.