JPMorgan Chase & Co. Invests $37.79 Million in Ingram Micro Holding Corp. (NYSE:INGM)

JPMorgan Chase & Co. bought a new position in Ingram Micro Holding Corp. (NYSE:INGM) during the 4th quarter, Holdings Channel reports. The fund bought 1,949,117 shares of the company’s stock, valued at approximately $37,793,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INGM. Rhumbline Advisers bought a new position in Ingram Micro during the fourth quarter worth $171,000. Allspring Global Investments Holdings LLC bought a new position in shares of Ingram Micro during the 4th quarter worth about $17,432,000. New York State Common Retirement Fund acquired a new position in shares of Ingram Micro during the fourth quarter valued at about $304,000. Burkehill Global Management LP acquired a new stake in Ingram Micro during the fourth quarter worth about $5,526,000. Finally, Keybank National Association OH bought a new position in Ingram Micro during the fourth quarter valued at about $319,000.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Raymond James decreased their price objective on Ingram Micro from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Royal Bank of Canada boosted their price target on shares of Ingram Micro from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Loop Capital reduced their price objective on shares of Ingram Micro from $30.00 to $25.00 and set a “buy” rating for the company in a report on Monday, March 10th. JPMorgan Chase & Co. lowered their target price on shares of Ingram Micro from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Finally, Bank of America cut their price target on shares of Ingram Micro from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $26.64.

Ingram Micro Trading Down 7.2 %

Shares of INGM opened at $15.69 on Monday. The company has a fifty day simple moving average of $21.08. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93. Ingram Micro Holding Corp. has a 52-week low of $15.20 and a 52-week high of $25.69.

Ingram Micro (NYSE:INGM) last issued its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.01. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $13.21 billion. Analysts expect that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current year.

Ingram Micro Dividend Announcement

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

Ingram Micro declared that its Board of Directors has approved a share buyback plan on Tuesday, March 4th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.