Ingram Micro Holding Corporation $INGM Shares Purchased by Bank of America Corp DE

Key Points

• Bank of America increased its Ingram Micro stake by 225.1% in the first quarter, acquiring 718,970 additional shares to own 1.04 million shares valued at approximately $24.2 million.
• Ingram Micro beat quarterly expectations, reporting $0.82 in EPS versus the $0.74 consensus and revenue of $14.53 billion versus $13.85 billion expected. The company also raised its quarterly dividend to $0.086 per share, implying a 1.2% annualized yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $31, while insiders sold more than $151 million of stock over the past 90 days, including a large sale by shareholder Platinum Equity.

Bank of America Corp DE raised its holdings in Ingram Micro Holding Corporation (NYSE:INGM - Free Report) by 225.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,038,331 shares of the company's stock after purchasing an additional 718,970 shares during the quarter. Bank of America Corp DE owned about 0.45% of Ingram Micro worth $24,203,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Royal Bank of Canada grew 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 valued at $34,000 after buying an additional 1,054 shares during the last quarter. Comerica Bank increased its position in Ingram Micro by 2,844.2% during the 3rd quarter. Comerica Bank now owns 3,798 shares of the company's stock worth $82,000 after purchasing an additional 3,669 shares during the period. Wells Fargo & Company MN increased its position in Ingram Micro by 33.2% during the 4th quarter. Wells Fargo & Company MN now owns 4,136 shares of the company's stock worth $88,000 after purchasing an additional 1,031 shares during the period. CWM LLC raised its stake in shares of Ingram Micro by 20.5% during the 4th quarter. CWM LLC now owns 4,144 shares of the company's stock worth $88,000 after buying an additional 705 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Ingram Micro in the fourth quarter valued at approximately $94,000.

Ingram Micro Price Performance

Ingram Micro stock opened at $28.06 on Tuesday. The stock has a market capitalization of $6.47 billion, a P/E ratio of 15.33, a P/E/G ratio of 0.70 and a beta of 1.75. Ingram Micro Holding Corporation has a 12-month low of $18.77 and a 12-month 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 firm's 50-day moving average is $28.45 and its two-hundred day moving average is $26.20.

Ingram Micro (NYSE:INGM - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates 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. Equities analysts predict that Ingram Micro Holding Corporation will post 3.37 earnings per share for the current year.

Ingram Micro Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th will be paid a dividend of $0.086 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Ingram Micro's previous quarterly dividend of $0.08. Ingram Micro's dividend payout ratio is currently 18.58%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Truist Financial raised their price objective on shares of Ingram Micro from $29.00 to $31.00 and gave the company a "hold" rating in a research note on Tuesday, August 4th. Raymond James Financial restated an "outperform" rating and issued a $34.00 price target on shares of Ingram Micro in a report on Friday, May 1st. Royal Bank Of Canada boosted their target price on Ingram Micro from $24.00 to $33.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 21st. Morgan Stanley boosted their price objective on shares of Ingram Micro from $27.50 to $33.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 23rd. Finally, Evercore set a $26.00 target price on shares of Ingram Micro in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Ingram Micro has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.

Insider Buying and Selling at Ingram Micro

In other Ingram Micro news, VP Augusto Aragone sold 10,000 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the vice president directly owned 140,465 shares of the company's stock, valued at approximately $4,213,950. This trade represents a 6.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 dated Monday, June 15th. The stock was sold at an average price of $29.03, for a total transaction of $150,000,013.07. Following the transaction, the insider owned 177,466,319 shares in the company, valued at approximately $5,151,847,240.57. The trade was a 2.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,227,069 shares of company stock worth $151,765,013 in the last 90 days. Insiders own 0.95% of the company's stock.

About Ingram Micro

Ingram Micro, headquartered in Irvine, California, is a global technology distributor and supply chain services provider. Listed on the New York Stock Exchange under the ticker INGM, the company connects leading technology manufacturers, cloud providers and channel partners through an integrated portfolio of products and services. Ingram Micro's end-to-end solutions span product distribution, cloud enablement, e-commerce, logistics and lifecycle management, enabling customers of all sizes to bring new technology to market efficiently.

The company's offerings are organized across several core areas.

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