Walleye Capital LLC Sells 49,900 Shares of Ingram Micro Holding Corporation $INGM

Key Points

• Walleye Capital LLC has reduced its stake in Ingram Micro by 58.6%, selling 49,900 shares and retaining only 35,207 shares, valued at $625,000.
• Ingram Micro recently announced a quarterly dividend of $0.078 per share, which will take effect on September 2nd, marking a slight decline from the previous $0.08 dividend.
• Analysts have mixed views on Ingram Micro, with ratings ranging from "buy" to "hold," and the average target price set at $25.79, signaling varied expectations for the company's stock performance.

Walleye Capital LLC decreased its position in Ingram Micro Holding Corporation (NYSE:INGM - Free Report) by 58.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,207 shares of the company's stock after selling 49,900 shares during the quarter. Walleye Capital LLC's holdings in Ingram Micro were worth $625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. California State Teachers Retirement System bought a new stake in Ingram Micro in the 4th quarter worth approximately $26,000. CWM LLC bought a new stake in Ingram Micro in the 1st quarter worth approximately $26,000. Wells Fargo & Company MN bought a new stake in Ingram Micro in the 4th quarter worth approximately $45,000. Tower Research Capital LLC TRC bought a new stake in Ingram Micro in the 4th quarter worth approximately $52,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Ingram Micro in the 4th quarter worth approximately $80,000.

Analyst Ratings Changes

A number of analysts have issued reports on the company. The Goldman Sachs Group reduced their price objective on Ingram Micro from $29.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Wall Street Zen raised Ingram Micro from a "hold" rating to a "buy" rating in a research note on Friday. JPMorgan Chase & Co. lifted their price objective on Ingram Micro from $21.00 to $24.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Zacks Research raised Ingram Micro from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, Morgan Stanley downgraded Ingram Micro from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $23.00 to $22.00 in a research report on Wednesday, June 11th. Ten equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $25.79.

Ingram Micro Trading Up 1.7%

Shares of NYSE INGM traded up $0.33 during trading hours on Friday, hitting $20.03. 265,784 shares of the company traded hands, compared to its average volume of 236,381. The stock has a market capitalization of $4.70 billion and a price-to-earnings ratio of 17.26. The company has a current ratio of 1.39, a quick ratio of 0.93 and a debt-to-equity ratio of 0.75. The company's 50 day moving average price is $20.12 and its 200 day moving average price is $19.37. Ingram Micro Holding Corporation has a 12 month low of $14.25 and a 12 month high of $25.69.

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

Ingram Micro Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were given a $0.078 dividend. This is a boost 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 yield of 1.6%. Ingram Micro's dividend payout ratio is currently 26.72%.

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.