Soros Fund Management LLC Takes Position in Ingram Micro Holding Corp. (NYSE:INGM)

Soros Fund Management LLC acquired a new position in shares of Ingram Micro Holding Corp. (NYSE:INGM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 100,000 shares of the company's stock, valued at approximately $1,939,000.

Several other hedge funds also recently made changes to their positions in the company. Northern Trust Corp purchased a new stake in shares of Ingram Micro in the fourth quarter valued at approximately $650,000. Tudor Investment Corp ET AL acquired a new stake in shares of Ingram Micro in the fourth quarter valued at about $924,000. Oxford Asset Management LLP purchased a new stake in Ingram Micro during the fourth quarter worth about $233,000. Ghisallo Capital Management LLC acquired a new position in Ingram Micro during the fourth quarter worth about $3,878,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Ingram Micro in the fourth quarter valued at about $6,302,000.

Ingram Micro Stock Up 3.1 %

INGM traded up $0.56 during midday trading on Friday, hitting $18.53. The company's stock had a trading volume of 207,585 shares, compared to its average volume of 429,877. Ingram Micro Holding Corp. has a 52-week low of $14.25 and a 52-week high of $25.69. The firm has a 50-day simple moving average of $18.03. 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 (NYSE:INGM - Get Free Report) last posted its quarterly 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. On average, 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 authorized a stock repurchase plan on Tuesday, March 4th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Ingram Micro Dividend Announcement

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

Analyst Upgrades and Downgrades

INGM has been the topic of several research analyst reports. Bank of America decreased their price target on 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 Ingram Micro from $28.00 to $26.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Morgan Stanley decreased their price objective on shares of Ingram Micro from $27.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. The Goldman Sachs Group dropped their target price on shares of Ingram Micro from $33.00 to $29.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Ingram Micro from $26.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $26.21.

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.