State of Alaska Department of Revenue Invests $851,000 in Ingram Micro Holding Corporation (NYSE:INGM)

State of Alaska Department of Revenue acquired a new position in Ingram Micro Holding Corporation (NYSE:INGM - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 48,000 shares of the company's stock, valued at approximately $851,000.

A number of other hedge funds have also recently made changes to their positions in INGM. California State Teachers Retirement System purchased a new stake in shares of Ingram Micro in the fourth quarter worth about $26,000. Wells Fargo & Company MN purchased a new stake in shares of Ingram Micro in the fourth quarter worth about $45,000. Cohen & Steers Inc. purchased a new stake in shares of Ingram Micro in the fourth quarter worth about $48,000. Tower Research Capital LLC TRC purchased a new stake in shares of Ingram Micro in the fourth quarter worth about $52,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Ingram Micro in the fourth quarter worth about $80,000.

Wall Street Analyst Weigh In

INGM has been the topic of a number of recent research reports. The Goldman Sachs Group decreased their price objective on Ingram Micro from $29.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Raymond James Financial decreased their price objective 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. Jefferies Financial Group decreased their price objective on Ingram Micro from $28.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, March 25th. Morgan Stanley downgraded Ingram Micro from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $23.00 to $22.00 in a research report on Wednesday, June 11th. Finally, Evercore ISI decreased their price objective on 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. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.71.

Ingram Micro Price Performance

Shares of NYSE INGM opened at $20.62 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.95 and a debt-to-equity ratio of 0.78. The business's 50 day moving average price is $19.27 and its 200-day moving average price is $19.93. Ingram Micro Holding Corporation has a fifty-two week low of $14.25 and a fifty-two week high of $25.69.

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

Ingram Micro Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th were issued a $0.076 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.47%. 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.

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.

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