Ingram Micro (NYSE:INGM) Sees Large Volume Increase – Time to Buy?

Shares of Ingram Micro Holding Corporation (NYSE:INGM) saw unusually-strong trading volume on Tuesday. 2,235,096 shares were traded during mid-day trading, an increase of 66% from the average daily volume of 1,345,419 shares. The stock last traded at $26.08 and had previously closed at $26.98.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on INGM. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ingram Micro in a research report on Monday, August 31st. They set a “hold” rating and a $30.00 price objective on the stock. Morgan Stanley cut their price target on shares of Ingram Micro from $33.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 16th. Truist Financial raised their target price on shares of Ingram Micro from $29.00 to $31.00 and gave the company a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings raised Ingram Micro from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $33.00 price target on shares of Ingram Micro in a research report on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.50.

Ingram Micro Stock Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 1.31 and a quick ratio of 0.88. The company has a market cap of $6.10 billion, a PE ratio of 13.43, a PEG ratio of 0.73 and a beta of 1.69. The stock has a 50 day simple moving average of $27.57 and a two-hundred day simple moving average of $26.35.

Ingram Micro (NYSE:INGM) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.13. The company had revenue of $15.22 billion during the quarter, compared to the consensus estimate of $13.83 billion. Ingram Micro had a return on equity of 18.07% and a net margin of 0.77%. During the same period in the previous year, the firm posted $0.72 EPS. Equities analysts predict that Ingram Micro Holding Corporation will post 3.45 EPS for the current year.

Ingram Micro Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 9th will be given a dividend of $0.0880 per share. The ex-dividend date of this dividend is Monday, November 9th. This is an increase from Ingram Micro’s previous quarterly dividend of $0.0860. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.3%. Ingram Micro’s dividend payout ratio is 17.68%.

Insider Transactions at Ingram Micro

In related news, major shareholder Platinum Equity, Llc sold 1,968,750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $27.19, for a total value of $53,530,312.50. Following the sale, the insider owned 162,372,569 shares of the company’s stock, valued at approximately $4,414,910,151.11. This trade represents a 1.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ingram Micro

Several large investors have recently made changes to their positions in INGM. Covestor Ltd grew its holdings in shares of Ingram Micro by 31.9% during the third quarter. Covestor Ltd now owns 5,158 shares of the company’s stock valued at $138,000 after buying an additional 1,247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Ingram Micro during the third quarter valued at $265,000. State of Wyoming bought a new stake in shares of Ingram Micro in the 3rd quarter valued at about $67,000. Pullen Investment Management LLC lifted its stake in Ingram Micro by 0.6% in the third quarter. Pullen Investment Management LLC now owns 134,161 shares of the company’s stock valued at $3,597,000 after buying an additional 859 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Ingram Micro by 191.5% during the third quarter. Signaturefd LLC now owns 2,696 shares of the company’s stock worth $72,000 after acquiring an additional 1,771 shares in the last quarter.

Ingram Micro Company Profile

Ingram Micro Inc is a global technology distribution and services company that connects technology manufacturers with businesses, resellers, systems integrators and other channel partners. Its portfolio includes hardware, software, cloud solutions, cybersecurity products, networking equipment, data-center technologies and communications solutions.

The company also provides value-added services such as cloud marketplace management, device lifecycle services, logistics, fulfillment, financing support, technical assistance and professional services.