Ingram Micro Holding Corporation $INGM Shares Purchased by Parallel Advisors LLC

Parallel Advisors LLC increased its holdings in shares of Ingram Micro Holding Corporation (NYSE:INGM) by 563.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,422 shares of the company’s stock after acquiring an additional 6,303 shares during the quarter. Parallel Advisors LLC’s holdings in Ingram Micro were worth $155,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Northern Trust Corp acquired a new stake in shares of Ingram Micro in the fourth quarter valued at approximately $650,000. Bank of America Corp DE bought a new position in shares of Ingram Micro in the fourth quarter valued at approximately $1,784,000. Millennium Management LLC bought a new position in shares of Ingram Micro in the fourth quarter valued at approximately $7,648,000. Nuveen Asset Management LLC bought a new stake in Ingram Micro during the fourth quarter worth approximately $305,000. Finally, Squarepoint Ops LLC bought a new stake in Ingram Micro during the fourth quarter worth approximately $783,000.

Ingram Micro Stock Down 0.3%

Ingram Micro stock opened at $21.04 on Wednesday. The company has a market capitalization of $4.94 billion and a P/E ratio of 18.14. The firm’s fifty day simple moving average is $20.10 and its 200-day simple moving average is $19.31. The company has a current ratio of 1.39, a quick ratio of 0.93 and a debt-to-equity ratio of 0.75. Ingram Micro Holding Corporation has a 1-year low of $14.25 and a 1-year high of $25.69.

Ingram Micro (NYSE:INGM) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $11.99 billion. Ingram Micro had a net margin of 0.53% and a return on equity of 17.33%. Sell-side analysts forecast that Ingram Micro Holding Corporation will post 2.71 earnings per share for the current fiscal year.

Ingram Micro Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were paid a $0.078 dividend. This represents a $0.31 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, August 19th. This is a boost from Ingram Micro’s previous quarterly dividend of $0.08. Ingram Micro’s dividend payout ratio (DPR) is 26.72%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Morgan Stanley cut shares of Ingram Micro from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $23.00 to $22.00 in a report on Wednesday, June 11th. Wall Street Zen upgraded shares of Ingram Micro from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Zacks Research upgraded shares of Ingram Micro from a “strong sell” rating to a “hold” rating in a report on Friday, August 22nd. JPMorgan Chase & Co. upped their price target on shares of Ingram Micro from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Finally, Raymond James Financial reduced their price target on shares of Ingram Micro from $26.00 to $24.00 and set an “outperform” rating for the company in a research report on Thursday, August 7th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Ingram Micro currently has a consensus rating of “Moderate Buy” and a consensus 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.