Squarepoint Ops LLC Invests $783,000 in Ingram Micro Holding Corp. (NYSE:INGM)

Squarepoint Ops LLC purchased a new stake in Ingram Micro Holding Corp. (NYSE:INGM - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 40,401 shares of the company's stock, valued at approximately $783,000.

Other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN purchased a new stake in shares of Ingram Micro during the fourth quarter worth $45,000. Cohen & Steers Inc. purchased a new position in shares of Ingram Micro in the fourth quarter worth about $48,000. Tower Research Capital LLC TRC acquired a new position in Ingram Micro during the fourth quarter worth about $52,000. Cubist Systematic Strategies LLC purchased a new stake in Ingram Micro during the 4th quarter valued at about $80,000. Finally, Russell Investments Group Ltd. acquired a new stake in Ingram Micro in the 4th quarter valued at about $120,000.

Ingram Micro Stock Performance

Shares of INGM traded up $0.38 during trading on Friday, reaching $20.06. 165,955 shares of the company traded hands, compared to its average volume of 416,971. The stock has a 50-day simple moving average of $18.12 and a 200-day simple moving average of $20.21. Ingram Micro Holding Corp. has a twelve month low of $14.25 and a twelve month high of $25.69. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96.

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

Ingram Micro Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th were given a dividend of $0.076 per share. This is a positive change from Ingram Micro's previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Tuesday, May 20th.

Ingram Micro announced that its board has initiated a stock buyback plan on Tuesday, March 4th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on INGM shares. JPMorgan Chase & Co. boosted their target price on Ingram Micro from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Morgan Stanley boosted their price objective on Ingram Micro from $18.00 to $23.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Raymond James dropped their target price on Ingram Micro from $28.00 to $26.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. Royal Bank of Canada lifted their price target on Ingram Micro from $26.00 to $28.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. Finally, Bank of America lowered their price target on shares of Ingram Micro from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $25.79.

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.