Victory Capital Management Inc. Buys 889,075 Shares of Ingram Micro Holding Corporation (NYSE:INGM)

Victory Capital Management Inc. lifted its position in shares of Ingram Micro Holding Corporation (NYSE:INGM) by 32.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,649,880 shares of the company’s stock after purchasing an additional 889,075 shares during the period. Victory Capital Management Inc.’s holdings in Ingram Micro were worth $64,749,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System purchased a new position in shares of Ingram Micro during the fourth quarter valued at approximately $26,000. CWM LLC bought a new stake in shares of Ingram Micro during the 1st quarter valued at $26,000. Wells Fargo & Company MN purchased a new position in shares of Ingram Micro during the 4th quarter valued at $45,000. Cohen & Steers Inc. purchased a new position in shares of Ingram Micro during the 4th quarter valued at $48,000. Finally, Tower Research Capital LLC TRC purchased a new stake in Ingram Micro in the 4th quarter worth $52,000.

Analyst Ratings Changes

A number of analysts have recently weighed in on INGM shares. Jefferies Financial Group reduced their target price on shares of Ingram Micro from $28.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. The Goldman Sachs Group decreased their target price on shares of Ingram Micro from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Wall Street Zen upgraded shares of Ingram Micro from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 12th. Morgan Stanley lowered shares of Ingram Micro from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $23.00 to $22.00 in a research note on Wednesday, June 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ingram Micro from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.93.

Ingram Micro Price Performance

Shares of INGM opened at $20.67 on Friday. Ingram Micro Holding Corporation has a 1-year low of $14.25 and a 1-year high of $25.69. The firm has a 50-day simple moving average of $20.15 and a two-hundred day simple moving average of $19.98. The company has a current ratio of 1.40, a quick ratio of 0.95 and a debt-to-equity ratio of 0.78.

Ingram Micro Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th were paid a $0.076 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.30 dividend on an annualized basis and a yield of 1.47%. This is an increase from Ingram Micro’s previous quarterly dividend of $0.07.

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.