Ingram Micro Holding Corp.’s Lock-Up Period Set To End on April 22nd (NYSE:INGM)

Ingram Micro’s (NYSE:INGM) lock-up period will expire on Tuesday, April 22nd. Ingram Micro had issued 18,600,000 shares in its IPO on October 24th. The total size of the offering was $409,200,000 based on an initial share price of $22.00. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analyst Upgrades and Downgrades

INGM has been the subject of several recent analyst reports. The Goldman Sachs Group lowered their price target 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 cut their price target on shares of Ingram Micro from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Royal Bank of Canada upped 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. JPMorgan Chase & Co. decreased their price target on Ingram Micro from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Finally, Loop Capital dropped their price target on shares of Ingram Micro from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.64.

Ingram Micro Stock Up 0.7 %

NYSE INGM opened at $16.00 on Thursday. The company’s 50-day moving average is $19.50. 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 has a 12 month low of $14.25 and a 12 month high of $25.69.

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

Ingram Micro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.074 per share. This represents a $0.30 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Tuesday, March 11th.

Ingram Micro declared that its board has approved a stock buyback plan on Tuesday, March 4th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Ingram Micro

A number of institutional investors have recently modified their holdings of the stock. Pullen Investment Management LLC acquired a new stake in shares of Ingram Micro during the 1st quarter worth approximately $1,206,000. Rhumbline Advisers raised its holdings in Ingram Micro by 46.0% during the first quarter. Rhumbline Advisers now owns 12,843 shares of the company’s stock worth $228,000 after purchasing an additional 4,044 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Ingram Micro by 5,873.5% during the 1st quarter. GAMMA Investing LLC now owns 4,062 shares of the company’s stock valued at $720,000 after purchasing an additional 3,994 shares during the period. Wellington Management Group LLP bought a new stake in Ingram Micro in the fourth quarter worth about $26,969,000. Finally, California State Teachers Retirement System acquired a new stake in Ingram Micro during the fourth quarter valued at approximately $26,000.

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.