Insider Selling: Ingram Micro (NYSE:INGM) Major Shareholder Sells 5,167,069 Shares of Stock

Key Points

• Platinum Equity, Ingram Micro’s major shareholder, sold 5.17 million shares on June 15 for about $150 million, reducing its ownership by 2.83%.
• The sale comes after another large insider transaction in May, when Platinum Equity sold 14.47 million shares for roughly $361.2 million.
• Despite the insider selling, Ingram Micro recently posted better-than-expected earnings and raised its quarterly dividend, while analysts currently have an average Hold rating with a consensus target price of $28.86.

Ingram Micro Holding Corporation (NYSE:INGM - Get Free Report) major shareholder Platinum Equity, Llc sold 5,167,069 shares of Ingram Micro stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $29.03, for a total value of $150,000,013.07. Following the completion of the transaction, the insider directly owned 177,466,319 shares of the company's stock, valued at $5,151,847,240.57. This represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Platinum Equity, Llc also recently made the following trade(s):

• On Thursday, May 7th, Platinum Equity, Llc sold 14,471,153 shares of Ingram Micro stock. The stock was sold at an average price of $24.96, for a total value of $361,199,978.88.

Ingram Micro Stock Down 2.0%

Shares of INGM traded down $0.59 on Wednesday, hitting $28.48. The company's stock had a trading volume of 1,254,464 shares, compared to its average volume of 1,366,971. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 0.85 and a beta of 1.78. The firm's fifty day moving average price is $28.30 and its 200-day moving average price is $24.17. The company has a quick ratio of 0.93, a current ratio of 1.31 and a debt-to-equity ratio of 0.61. Ingram Micro Holding Corporation has a fifty-two week low of $18.09 and a fifty-two week high of $31.69.

Ingram Micro (NYSE:INGM - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.70 by $0.05. Ingram Micro had a return on equity of 17.19% and a net margin of 0.66%.The firm had revenue of $13.96 billion for the quarter, compared to analysts' expectations of $12.76 billion. The company's revenue was up 13.7% compared to the same quarter last year. Ingram Micro has set its Q2 2026 guidance at 0.680-0.780 EPS. On average, equities research analysts expect that Ingram Micro Holding Corporation will post 3.27 EPS for the current year.

Ingram Micro declared that its Board of Directors has approved a share repurchase plan on Monday, March 2nd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Ingram Micro Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were issued a $0.084 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.34 dividend on an annualized basis and a yield of 1.2%. This is a positive change from Ingram Micro's previous quarterly dividend of $0.08. Ingram Micro's payout ratio is currently 22.52%.

Hedge Funds Weigh In On Ingram Micro

A number of institutional investors have recently added to or reduced their stakes in INGM. Geode Capital Management LLC increased its stake in Ingram Micro by 11.8% in the 2nd quarter. Geode Capital Management LLC now owns 103,184 shares of the company's stock worth $2,150,000 after acquiring an additional 10,878 shares during the last quarter. Rhumbline Advisers lifted its holdings in Ingram Micro by 6.3% in the 2nd quarter. Rhumbline Advisers now owns 13,646 shares of the company's stock worth $284,000 after buying an additional 803 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Ingram Micro in the 2nd quarter valued at approximately $755,000. Invesco Ltd. lifted its stake in shares of Ingram Micro by 29.0% in the 2nd quarter. Invesco Ltd. now owns 60,522 shares of the company's stock valued at $1,261,000 after purchasing an additional 13,605 shares during the period. Finally, Jump Financial LLC bought a new position in Ingram Micro during the 2nd quarter valued at approximately $1,852,000.

Analyst Ratings Changes

INGM has been the topic of several analyst reports. Royal Bank Of Canada increased their target price on Ingram Micro from $24.00 to $33.00 and gave the stock an "outperform" rating in a report on Tuesday, April 21st. Morgan Stanley upped their price objective on Ingram Micro from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 3rd. Raymond James Financial restated an "outperform" rating and set a $34.00 price objective on shares of Ingram Micro in a research report on Friday, May 1st. Wall Street Zen downgraded Ingram Micro from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 9th. Finally, The Goldman Sachs Group upped their price objective on Ingram Micro from $25.00 to $30.00 and gave the stock a "neutral" rating in a research report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Ingram Micro presently has an average rating of "Hold" and a consensus target price of $28.86.

Ingram Micro Company Profile

Ingram Micro, headquartered in Irvine, California, is a global technology distributor and supply chain services provider. Listed on the New York Stock Exchange under the ticker INGM, the company connects leading technology manufacturers, cloud providers and channel partners through an integrated portfolio of products and services. Ingram Micro's end-to-end solutions span product distribution, cloud enablement, e-commerce, logistics and lifecycle management, enabling customers of all sizes to bring new technology to market efficiently.

The company's offerings are organized across several core areas.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.