Millennium Management LLC Purchases New Stake in Ingram Micro Holding Corp. (NYSE:INGM)

Millennium Management LLC acquired a new position in shares of Ingram Micro Holding Corp. (NYSE:INGM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 394,429 shares of the company's stock, valued at approximately $7,648,000. Millennium Management LLC owned approximately 0.17% of Ingram Micro at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Capital World Investors bought a new stake in Ingram Micro in the fourth quarter valued at approximately $68,295,000. Victory Capital Management Inc. bought a new position in shares of Ingram Micro during the fourth quarter valued at approximately $53,532,000. JPMorgan Chase & Co. bought a new position in shares of Ingram Micro during the fourth quarter valued at approximately $37,793,000. American Century Companies Inc. bought a new position in shares of Ingram Micro during the fourth quarter valued at approximately $36,268,000. Finally, Ameriprise Financial Inc. bought a new position in shares of Ingram Micro during the fourth quarter valued at approximately $30,683,000.

Analyst Ratings Changes

INGM has been the subject of a number of research reports. Bank of America decreased their price objective on Ingram Micro from $30.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. increased their price objective on Ingram Micro from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Evercore ISI lowered their price objective on shares of Ingram Micro from $27.00 to $26.00 and set an "in-line" rating on the stock in a research report on Wednesday, March 5th. Royal Bank of Canada raised their target price on Ingram Micro from $26.00 to $28.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Finally, Raymond James dropped their target price on Ingram Micro from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $25.79.

Ingram Micro Price Performance

INGM stock traded down $0.43 during mid-day trading on Friday, reaching $19.13. 188,881 shares of the company's stock were exchanged, compared to its average volume of 421,539. The stock's 50 day moving average is $17.98 and its 200 day moving average is $20.31. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40. Ingram Micro Holding Corp. has a 12-month low of $14.25 and a 12-month high of $25.69.

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

Ingram Micro declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 4th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to buy up to 1.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Ingram Micro Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th will be issued a dividend of $0.076 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.59%. This is a boost from Ingram Micro's previous quarterly dividend of $0.07.

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.