Squarepoint Ops LLC Purchases New Shares in Ingram Micro Holding Corp. (NYSE:INGM)

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

A number of other institutional investors have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new stake in Ingram Micro in the fourth quarter worth $17,432,000. Rhumbline Advisers bought a new stake in shares of Ingram Micro in the 4th quarter valued at $171,000. New York State Common Retirement Fund acquired a new stake in Ingram Micro during the 4th quarter worth $304,000. Bank of New York Mellon Corp bought a new position in Ingram Micro during the fourth quarter worth about $207,000. Finally, Keybank National Association OH acquired a new position in Ingram Micro in the fourth quarter valued at about $319,000.

Ingram Micro Stock Performance

NYSE INGM traded up $0.09 during trading hours on Thursday, hitting $19.70. 129,866 shares of the company traded hands, compared to its average volume of 416,906. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40. The business's 50-day moving average is $18.04 and its 200-day moving average is $20.25. Ingram Micro Holding Corp. has a twelve month low of $14.25 and a twelve month high of $25.69.

Ingram Micro (NYSE:INGM - Get Free Report) last released its earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.01. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $13.21 billion. On average, sell-side analysts forecast that Ingram Micro Holding Corp. will post 2.71 EPS for the current year.

Ingram Micro Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th were issued a dividend of $0.076 per share. This is an increase from Ingram Micro's previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.30 annualized dividend and a dividend yield of 1.54%.

Ingram Micro announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 4th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Ingram Micro from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Bank of America cut 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 note on Wednesday, March 5th. Jefferies Financial Group lowered their price objective on shares of Ingram Micro from $28.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, March 25th. Evercore ISI cut 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. Finally, Loop Capital lowered their target price on Ingram Micro from $30.00 to $25.00 and set a "buy" rating for the company in a report on Monday, March 10th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.79.

Ingram Micro Company Profile

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.