State of Alaska Department of Revenue Purchases 30,000 Shares of Ingram Micro Holding Corporation $INGM

Key Points

• The State of Alaska Department of Revenue increased its holdings in Ingram Micro by 62.5% during the second quarter, now owning 78,000 shares valued at $1,625,000.
• Wall Street analysts have mixed views on Ingram Micro, with ten analysts rating it as a Buy and nine as a Hold, projecting a target price of $25.79.
• Ingram Micro recently declared a quarterly dividend increase, changing it from $0.08 to $0.078, with a current dividend yield of 1.4%.

State of Alaska Department of Revenue grew its position in Ingram Micro Holding Corporation (NYSE:INGM - Free Report) by 62.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,000 shares of the company's stock after acquiring an additional 30,000 shares during the period. State of Alaska Department of Revenue's holdings in Ingram Micro were worth $1,625,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of INGM. Nuveen Asset Management LLC bought a new position in shares of Ingram Micro in the fourth quarter valued at approximately $305,000. Public Employees Retirement System of Ohio bought a new position in shares of Ingram Micro in the fourth quarter valued at approximately $118,000. California State Teachers Retirement System bought a new position in shares of Ingram Micro in the fourth quarter valued at approximately $26,000. GAMMA Investing LLC raised its stake in shares of Ingram Micro by 5,873.5% in the first quarter. GAMMA Investing LLC now owns 4,062 shares of the company's stock valued at $720,000 after acquiring an additional 3,994 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Ingram Micro by 46.0% in the first quarter. Rhumbline Advisers now owns 12,843 shares of the company's stock valued at $228,000 after acquiring an additional 4,044 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on INGM. Morgan Stanley cut shares of Ingram Micro from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $23.00 to $22.00 in a research report on Wednesday, June 11th. Zacks Research upgraded shares of Ingram Micro from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Ingram Micro from $21.00 to $24.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Weiss Ratings restated a "hold (c-)" rating on shares of Ingram Micro in a research report on Saturday, September 27th. Finally, Wall Street Zen upgraded shares of Ingram Micro from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Ten analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.79.

Ingram Micro Price Performance

INGM opened at $21.98 on Friday. The company has a fifty day moving average price of $20.17 and a two-hundred day moving average price of $19.44. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.93 and a current ratio of 1.39. Ingram Micro Holding Corporation has a 52 week low of $14.25 and a 52 week high of $25.69. The firm has a market capitalization of $5.16 billion and a PE ratio of 18.95.

Ingram Micro (NYSE:INGM - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. Ingram Micro had a net margin of 0.53% and a return on equity of 17.33%. The firm had revenue of $12.79 billion during the quarter, compared to analyst estimates of $11.99 billion. As a group, analysts anticipate that Ingram Micro Holding Corporation will post 2.71 earnings per share for the current year.

Ingram Micro Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were issued a $0.078 dividend. This is a positive change from Ingram Micro's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $0.31 annualized dividend and a dividend yield of 1.4%. Ingram Micro's dividend payout ratio (DPR) is presently 26.72%.

Ingram Micro 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.

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