1,949,117 Shares in Ingram Micro Holding Corp. (NYSE:INGM) Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. bought a new stake in Ingram Micro Holding Corp. (NYSE:INGM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,949,117 shares of the company’s stock, valued at approximately $37,793,000. JPMorgan Chase & Co. owned about 0.83% of Ingram Micro as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rhumbline Advisers bought a new stake in Ingram Micro in the 4th quarter valued at about $171,000. Bank of New York Mellon Corp acquired a new stake in Ingram Micro in the fourth quarter worth about $207,000. New York State Common Retirement Fund acquired a new position in Ingram Micro during the 4th quarter valued at about $304,000. Keybank National Association OH bought a new stake in shares of Ingram Micro during the 4th quarter worth about $319,000. Finally, Sei Investments Co. acquired a new stake in shares of Ingram Micro in the 4th quarter worth approximately $4,980,000.

Ingram Micro Price Performance

Shares of Ingram Micro stock opened at $15.69 on Monday. Ingram Micro Holding Corp. has a 1 year low of $15.20 and a 1 year high of $25.69. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96. The business has a 50-day simple moving average of $21.08.

Ingram Micro (NYSE:INGM) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.01. The company had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $13.21 billion. On average, equities analysts forecast that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current fiscal year.

Ingram Micro declared that its Board of Directors has authorized a stock repurchase program 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 programs are often an indication that the company’s board of directors believes its stock is undervalued.

Ingram Micro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were issued a dividend of $0.074 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.30 annualized dividend and a dividend yield of 1.89%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on INGM shares. Evercore ISI lowered their price objective 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. The Goldman Sachs Group cut their price objective on Ingram Micro from $33.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Bank of America lowered their target price on Ingram Micro from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Jefferies Financial Group reduced 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. Finally, Loop Capital dropped their target price on shares of Ingram Micro from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.64.

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.