Ingram Micro (NYSE:INGM) Sees Unusually-High Trading Volume - Still a Buy?

Ingram Micro Holding Corporation (NYSE:INGM - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 387,871 shares were traded 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 Analyst Weigh In

A number of analysts have commented on the company. Jefferies Financial Group reduced their price objective 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. Morgan Stanley cut Ingram Micro from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $23.00 to $22.00 in a research report on Wednesday, June 11th. JPMorgan Chase & Co. upped their target price on shares of Ingram Micro from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, The Goldman Sachs Group cut their price target 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. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.71.

Ingram Micro Stock Performance

The stock has a 50-day moving average of $20.00 and a 200 day moving average of $19.96. The company has a current ratio of 1.40, a quick ratio of 0.95 and a debt-to-equity ratio of 0.78.

Ingram Micro Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th were paid a $0.076 dividend. The ex-dividend date of this dividend was 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 1.46%.

Institutional Investors Weigh In On Ingram Micro

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System acquired a new position in shares of Ingram Micro during the fourth quarter valued at $26,000. CWM LLC bought a new position in shares of Ingram Micro in the 1st quarter valued at about $26,000. Wells Fargo & Company MN acquired a new stake in shares of Ingram Micro during the 4th quarter worth approximately $45,000. Cohen & Steers Inc. acquired a new position in Ingram Micro in the fourth quarter valued at approximately $48,000. Finally, Tower Research Capital LLC TRC bought a new position in Ingram Micro in the fourth quarter valued at approximately $52,000.

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.