Maytus Capital Management LLC Acquires New Shares in Ingram Micro Holding Corp. (NYSE:INGM)

Maytus Capital Management LLC purchased a new stake in shares of Ingram Micro Holding Corp. (NYSE:INGM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 80,000 shares of the company's stock, valued at approximately $1,551,000.

A number of other institutional investors have also bought and sold shares of the company. Millennium Management LLC bought a new stake in Ingram Micro during the fourth quarter valued at $7,648,000. LMR Partners LLP bought a new position in shares of Ingram Micro during the 4th quarter worth about $1,939,000. Invenomic Capital Management LP bought a new position in shares of Ingram Micro during the 4th quarter worth about $12,284,000. Cubist Systematic Strategies LLC bought a new position in shares of Ingram Micro during the 4th quarter worth about $80,000. Finally, Bank of America Corp DE bought a new position in shares of Ingram Micro during the 4th quarter worth about $1,784,000.

Ingram Micro Trading Down 2.2%

NYSE:INGM traded down $0.45 on Friday, hitting $20.43. The stock had a trading volume of 1,290,190 shares, compared to its average volume of 431,786. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40. Ingram Micro Holding Corp. has a 1 year low of $14.25 and a 1 year high of $25.69. The firm's fifty day simple moving average is $17.90.

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

Ingram Micro announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 4th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to buy up to 1.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Ingram Micro Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th will be paid a dividend of $0.076 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.30 annualized dividend and a dividend yield of 1.49%. This is a positive change from Ingram Micro's previous quarterly dividend of $0.07.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on INGM shares. Bank of America cut their price objective on shares of Ingram Micro from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Raymond James cut their price objective on shares of Ingram Micro from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. JPMorgan Chase & Co. increased their price objective on shares of Ingram Micro from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Royal Bank of Canada increased their price objective on shares of Ingram Micro from $26.00 to $28.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Finally, Jefferies Financial Group lowered their target price on shares of Ingram Micro from $28.00 to $24.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $25.79.

Ingram Micro 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.