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

Soros Fund Management LLC acquired a new stake in shares of Ingram Micro Holding Corp. (NYSE:INGM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 100,000 shares of the company's stock, valued at approximately $1,939,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN bought a new stake in shares of Ingram Micro during the fourth quarter valued at approximately $45,000. Cohen & Steers Inc. bought a new position in shares of Ingram Micro during the 4th quarter valued at about $48,000. Tower Research Capital LLC TRC purchased a new position in shares of Ingram Micro during the fourth quarter valued at about $52,000. Russell Investments Group Ltd. bought a new stake in shares of Ingram Micro in the fourth quarter worth about $120,000. Finally, Rhumbline Advisers purchased a new stake in shares of Ingram Micro in the fourth quarter worth about $171,000.

Ingram Micro Trading Down 0.4 %

NYSE INGM traded down $0.07 on Monday, reaching $18.49. 80,907 shares of the stock traded hands, compared to its average volume of 427,237. Ingram Micro Holding Corp. has a 12 month low of $14.25 and a 12 month high of $25.69. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93. The stock's fifty day simple moving average is $18.03.

Ingram Micro (NYSE:INGM - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.01. The company had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $13.21 billion. 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 has authorized a stock repurchase program on Tuesday, March 4th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Ingram Micro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were given a $0.074 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.60%.

Analysts Set New Price Targets

INGM has been the subject of several research reports. Jefferies Financial Group lowered their price objective on shares of Ingram Micro from $28.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, March 25th. Raymond James dropped their price target on Ingram Micro from $28.00 to $26.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price objective on Ingram Micro from $26.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Loop Capital cut their target price on Ingram Micro from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. Finally, Evercore ISI lowered their price target on Ingram Micro from $27.00 to $26.00 and set an "in-line" rating for the company in a research report on Wednesday, March 5th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $26.21.

About Ingram Micro

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.