Woodline Partners LP Makes New Investment in Ingram Micro Holding Corp. (NYSE:INGM)

Woodline Partners LP purchased a new stake in Ingram Micro Holding Corp. (NYSE:INGM - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 300,701 shares of the company's stock, valued at approximately $5,831,000. Woodline Partners LP owned 0.13% of Ingram Micro as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in Ingram Micro in the 4th quarter valued at approximately $17,432,000. Rhumbline Advisers bought a new position in shares of Ingram Micro in the fourth quarter worth about $171,000. New York State Common Retirement Fund bought a new position in shares of Ingram Micro in the fourth quarter worth about $304,000. Bank of New York Mellon Corp acquired a new stake in shares of Ingram Micro during the 4th quarter worth approximately $207,000. Finally, Keybank National Association OH bought a new position in Ingram Micro during the 4th quarter worth approximately $319,000.

Ingram Micro Stock Down 1.0%

Shares of INGM traded down $0.19 on Thursday, reaching $19.46. The company's stock had a trading volume of 55,840 shares, compared to its average volume of 421,742. 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 stock's 50 day simple moving average is $17.99 and its two-hundred day simple moving average is $20.40. Ingram Micro Holding Corp. 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 quarterly earnings data on Tuesday, March 4th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.01. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $13.21 billion. As a group, equities research analysts anticipate that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current year.

Ingram Micro declared that its board has authorized a share repurchase plan on Tuesday, March 4th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Ingram Micro Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th will be issued a $0.076 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This is a positive change from Ingram Micro's previous quarterly dividend of $0.07. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.56%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on INGM. JPMorgan Chase & Co. boosted their target price 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. Evercore ISI dropped their target price on shares of Ingram Micro from $27.00 to $26.00 and set an "in-line" rating for the company in a report on Wednesday, March 5th. Jefferies Financial Group decreased 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. Morgan Stanley lifted their price objective on shares of Ingram Micro from $18.00 to $23.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Loop Capital lowered their price objective on shares of Ingram Micro from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $25.79.

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.