Ingram Micro (NYSE:INGM) Sees Unusually-High Trading Volume - Time to Buy?

Shares of Ingram Micro Holding Corporation (NYSE:INGM - Get Free Report) saw strong trading volume on Tuesday . 387,871 shares traded hands during mid-day trading, a decline of 6% from the previous session's volume of 412,431 shares.The stock last traded at $20.33 and had previously closed at $20.20.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on INGM shares. Morgan Stanley cut 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 report on Wednesday, June 11th. Jefferies Financial Group decreased their target price on Ingram Micro from $28.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, March 25th. JPMorgan Chase & Co. boosted their target price on Ingram Micro from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. The Goldman Sachs Group decreased their price objective on Ingram Micro from $29.00 to $25.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Loop Capital dropped their target price on shares of Ingram Micro from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $25.71.

Ingram Micro Stock Up 1.6%

The company has a debt-to-equity ratio of 0.78, a current ratio of 1.40 and a quick ratio of 0.95. The firm has a 50-day simple moving average of $19.78 and a 200 day simple moving average of $19.94.

Ingram Micro Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th were given a dividend of $0.076 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.48%. This is an increase from Ingram Micro's previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, May 20th.

Institutional Investors Weigh In On Ingram Micro

Several large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its stake in Ingram Micro by 563.3% during the second quarter. Parallel Advisors LLC now owns 7,422 shares of the company's stock worth $155,000 after purchasing an additional 6,303 shares during the period. Voya Investment Management LLC acquired a new stake in Ingram Micro in the first quarter valued at approximately $1,531,000. Rhumbline Advisers grew its stake in 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 period. Dynamic Technology Lab Private Ltd acquired a new stake in Ingram Micro in the first quarter valued at approximately $372,000. Finally, Alyeska Investment Group L.P. grew its stake in Ingram Micro by 634.6% in the first quarter. Alyeska Investment Group L.P. now owns 1,436,187 shares of the company's stock valued at $25,478,000 after acquiring an additional 1,240,675 shares during the period.

Ingram Micro Company 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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