Bank of America Corp DE Acquires Shares of 91,995 Ingram Micro Holding Corp. (NYSE:INGM)

Bank of America Corp DE acquired a new stake in shares of Ingram Micro Holding Corp. (NYSE:INGM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 91,995 shares of the company’s stock, valued at approximately $1,784,000.

A number of other hedge funds have also recently bought and sold shares of INGM. Wells Fargo & Company MN acquired a new position in shares of Ingram Micro in the 4th quarter worth approximately $45,000. Cohen & Steers Inc. acquired a new position in shares of Ingram Micro in the 4th quarter worth approximately $48,000. Tower Research Capital LLC TRC acquired a new position in shares of Ingram Micro in the 4th quarter worth approximately $52,000. Russell Investments Group Ltd. acquired a new position in shares of Ingram Micro in the 4th quarter worth approximately $120,000. Finally, Rhumbline Advisers acquired a new position in shares of Ingram Micro in the 4th quarter worth approximately $171,000.

Ingram Micro Stock Performance

INGM opened at $19.30 on Wednesday. Ingram Micro Holding Corp. has a one year low of $14.25 and a one 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 stock’s fifty day moving average is $18.01 and its 200-day moving average is $20.25.

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

Ingram Micro announced that its board has approved a share buyback program on Tuesday, March 4th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Ingram Micro Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th were paid a $0.076 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Tuesday, May 20th. This is an increase from Ingram Micro’s previous quarterly dividend of $0.07.

Wall Street Analyst Weigh In

INGM has been the subject of several research reports. Jefferies Financial Group decreased their target price on Ingram Micro from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Loop Capital decreased their target price on Ingram Micro from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Bank of America decreased their target price on Ingram Micro from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price objective on Ingram Micro from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Finally, Evercore ISI reduced their price objective 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 equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.