Ingram Micro Holding Corporation (NYSE:INGM) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Ingram Micro Holding Corporation has received a consensus rating of "Moderate Buy" from seventeen analysts, with an average 12-month target price of $25.93.
• The company recently increased its quarterly dividend to $0.076, resulting in an annualized dividend yield of 1.42%.
• Several institutional investors have recently adjusted their positions, with notable increases in holdings by Victory Capital Management and Wellington Management Group, indicating growing institutional interest.

Shares of Ingram Micro Holding Corporation (NYSE:INGM - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seventeen brokerages that are presently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $25.93.

INGM has been the topic of several analyst reports. Wall Street Zen lowered shares of Ingram Micro from a "strong-buy" rating to a "buy" rating in a report on Saturday. Morgan Stanley lowered shares of 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. JPMorgan Chase & Co. upped their price target on shares of Ingram Micro from $21.00 to $24.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Finally, The Goldman Sachs Group lowered their price objective on shares of Ingram Micro from $29.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, May 9th.

Institutional Trading of Ingram Micro

Several institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its holdings in Ingram Micro by 3.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,012,843 shares of the company's stock worth $21,574,000 after acquiring an additional 37,464 shares in the last quarter. CWM LLC raised its position in shares of Ingram Micro by 125.7% during the 2nd quarter. CWM LLC now owns 3,333 shares of the company's stock worth $69,000 after purchasing an additional 1,856 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Ingram Micro by 62.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 78,000 shares of the company's stock valued at $1,625,000 after buying an additional 30,000 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Ingram Micro by 16.8% in the second quarter. Public Employees Retirement System of Ohio now owns 6,369 shares of the company's stock valued at $133,000 after acquiring an additional 917 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Ingram Micro by 563.3% in the second quarter. Parallel Advisors LLC now owns 7,422 shares of the company's stock valued at $155,000 after acquiring an additional 6,303 shares in the last quarter.

Ingram Micro Stock Down 0.5%

INGM traded down $0.11 on Friday, hitting $20.89. The company had a trading volume of 524,363 shares, compared to its average volume of 354,730. The stock has a fifty day moving average price of $20.24 and a 200-day moving average price of $20.04. Ingram Micro has a 12-month low of $14.25 and a 12-month high of $25.69. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.40 and a quick ratio of 0.95.

Ingram Micro Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th were paid a dividend of $0.076 per share. This is a positive change from Ingram Micro's previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a dividend yield of 1.46%. The ex-dividend date 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.