Burkehill Global Management LP Makes New Investment in Ingram Micro Holding Corp. (NYSE:INGM)

Burkehill Global Management LP purchased a new stake in Ingram Micro Holding Corp. (NYSE:INGM) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 285,000 shares of the company’s stock, valued at approximately $5,526,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. acquired a new position in shares of Ingram Micro in the 4th quarter worth approximately $53,532,000. Keybank National Association OH purchased a new stake in Ingram Micro in the fourth quarter valued at approximately $319,000. Bank of New York Mellon Corp acquired a new position in Ingram Micro during the fourth quarter worth $207,000. New York State Common Retirement Fund purchased a new position in shares of Ingram Micro during the fourth quarter worth $304,000. Finally, Rhumbline Advisers acquired a new stake in shares of Ingram Micro in the fourth quarter valued at $171,000.

Ingram Micro Stock Down 0.8 %

NYSE:INGM opened at $18.93 on Thursday. 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 1 year low of $18.40 and a 1 year high of $25.69. The business’s 50-day simple moving average is $21.93.

Ingram Micro (NYSE:INGM) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.91 by $0.01. The company had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $13.21 billion. On average, equities analysts expect that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current year.

Ingram Micro announced that its board has approved a share buyback program on Tuesday, March 4th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Ingram Micro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a $0.074 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $0.30 annualized dividend and a yield of 1.56%.

Wall Street Analysts Forecast Growth

INGM has been the topic of several research reports. Morgan Stanley decreased their target price on Ingram Micro from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Raymond James reduced their price target on shares of Ingram Micro from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Loop Capital dropped 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. Stifel Nicolaus initiated coverage on shares of Ingram Micro in a report on Monday, November 18th. They set a “buy” rating and a $28.00 target price on the stock. Finally, William Blair initiated coverage on shares of Ingram Micro in a research report on Monday, November 18th. They issued an “outperform” rating for the company. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Ingram Micro has a consensus rating of “Moderate Buy” and an average price target of $26.93.

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.