Sandia Investment Management LP Invests $388,000 in Ingram Micro Holding Corp. (NYSE:INGM)

Sandia Investment Management LP purchased a new stake in Ingram Micro Holding Corp. (NYSE:INGM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,000 shares of the company's stock, valued at approximately $388,000.

Several other institutional investors also recently modified their holdings of the stock. Capital World Investors acquired a new stake in Ingram Micro during the 4th quarter valued at $68,295,000. Victory Capital Management Inc. acquired a new stake in Ingram Micro during the 4th quarter valued at $53,532,000. JPMorgan Chase & Co. acquired a new stake in Ingram Micro during the 4th quarter valued at $37,793,000. American Century Companies Inc. acquired a new stake in Ingram Micro during the 4th quarter valued at $36,268,000. Finally, Ameriprise Financial Inc. acquired a new stake in Ingram Micro during the 4th quarter valued at $30,683,000.

Ingram Micro Stock Down 1.3%

Shares of INGM traded down $0.26 during trading hours on Tuesday, reaching $20.33. 309,630 shares of the company traded hands, compared to its average volume of 430,280. The firm has a fifty day moving average of $17.93. 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.

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

Ingram Micro declared that its board has initiated a stock buyback program on Tuesday, March 4th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to buy up to 1.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Ingram Micro Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th will be given a $0.076 dividend. This represents a $0.30 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, May 20th. This is a positive change from Ingram Micro's previous quarterly dividend of $0.07.

Analysts Set New Price Targets

Several analysts have issued reports on INGM shares. Evercore ISI cut their target price on shares of Ingram Micro from $27.00 to $26.00 and set an "in-line" rating on the stock in a research note on Wednesday, March 5th. Bank of America dropped their price target on shares of Ingram Micro from $30.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Raymond James dropped their price target on shares of Ingram Micro from $28.00 to $26.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. The Goldman Sachs Group decreased their price objective on shares of Ingram Micro from $29.00 to $25.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Loop Capital decreased their price objective on shares of Ingram Micro from $30.00 to $25.00 and set a "buy" rating for the company in a report on Monday, March 10th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently 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.