Invesco Ltd. Makes New Investment in Ingram Micro Holding Corp. (NYSE:INGM)

Invesco Ltd. purchased a new stake in shares of Ingram Micro Holding Corp. (NYSE:INGM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 34,375 shares of the company's stock, valued at approximately $667,000.

A number of other large investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new stake in shares of Ingram Micro during the 4th quarter worth approximately $37,793,000. Rhumbline Advisers bought a new position in Ingram Micro during the fourth quarter valued at $171,000. Allspring Global Investments Holdings LLC purchased a new stake in Ingram Micro in the fourth quarter worth $17,432,000. New York State Common Retirement Fund bought a new stake in shares of Ingram Micro in the fourth quarter valued at $304,000. Finally, Burkehill Global Management LP purchased a new position in shares of Ingram Micro during the 4th quarter valued at $5,526,000.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INGM. The Goldman Sachs Group lowered their price objective on Ingram Micro from $33.00 to $29.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. JPMorgan Chase & Co. dropped their price target on shares of Ingram Micro from $26.00 to $20.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Raymond James reduced their price objective on shares of Ingram Micro from $28.00 to $26.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. Bank of America dropped their target price on Ingram Micro from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Finally, Morgan Stanley dropped their price objective on Ingram Micro from $27.00 to $26.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $26.21.

Ingram Micro Price Performance

INGM stock traded up $0.42 during midday trading on Thursday, reaching $19.43. The company had a trading volume of 21,980 shares, compared to its average volume of 380,703. The company's 50-day moving average is $17.83. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96. Ingram Micro Holding Corp. has a 1 year low of $14.25 and a 1 year high of $25.69.

Ingram Micro (NYSE:INGM - Get Free Report) last released its earnings results on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.01. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $13.21 billion. On average, analysts predict that Ingram Micro Holding Corp. will post 2.71 EPS for the current fiscal year.

Ingram Micro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were given a $0.074 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $0.30 dividend on an annualized basis and a yield of 1.52%.

Ingram Micro declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 4th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 1.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

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.