State of Alaska Department of Revenue Takes Position in Ingram Micro Holding Corporation (NYSE:INGM)

State of Alaska Department of Revenue acquired a new stake in Ingram Micro Holding Corporation (NYSE:INGM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 48,000 shares of the company's stock, valued at approximately $851,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Capital World Investors bought a new position in shares of Ingram Micro in the fourth quarter worth about $68,295,000. Victory Capital Management Inc. acquired a new position in Ingram Micro during the 4th quarter worth approximately $53,532,000. JPMorgan Chase & Co. acquired a new position in Ingram Micro during the 4th quarter worth approximately $37,793,000. American Century Companies Inc. bought a new position in Ingram Micro in the 4th quarter valued at approximately $36,268,000. Finally, Ameriprise Financial Inc. acquired a new stake in Ingram Micro in the fourth quarter valued at approximately $30,683,000.

Analyst Ratings Changes

INGM has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Ingram Micro from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. The Goldman Sachs Group lowered their target price on Ingram Micro from $29.00 to $25.00 and set a "buy" rating for the company in a report on Friday, May 9th. Bank of America cut their price target on Ingram Micro from $30.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Raymond James Financial reduced their price target on Ingram Micro from $28.00 to $26.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th. Finally, Morgan Stanley downgraded shares of Ingram Micro from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $23.00 to $22.00 in a research report on Wednesday, June 11th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.71.

Ingram Micro Stock Performance

INGM traded up $0.49 during trading on Tuesday, reaching $21.33. 203,880 shares of the stock traded hands, compared to its average volume of 412,547. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.95 and a current ratio of 1.40. The stock's 50-day moving average is $19.47 and its 200 day moving average is $19.91. Ingram Micro Holding Corporation has a 12 month low of $14.25 and a 12 month high of $25.69.

Ingram Micro Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors 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. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.30 annualized dividend and a dividend yield of 1.43%.

Ingram Micro announced that its Board of Directors has authorized a share buyback program on Tuesday, March 4th that allows the company to repurchase $75.00 million in 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.

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.