Lucus Advisors LLC reduced its position in Ingram Micro Inc. (NYSE:IM) by 31.1% during the second quarter, Holdings Channel reports. The institutional investor owned 9,938 shares of the company’s stock after selling 4,494 shares during the period. Lucus Advisors LLC’s holdings in Ingram Micro were worth $346,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of IM. Howard Hughes Medical Institute boosted its position in Ingram Micro by 5.4% in the first quarter. Howard Hughes Medical Institute now owns 7,835 shares of the company’s stock worth $281,000 after buying an additional 398 shares during the last quarter. Weaver C. Barksdale & Associates Inc. raised its stake in shares of Ingram Micro by 8.4% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 5,515 shares of the company’s stock valued at $192,000 after buying an additional 427 shares during the last quarter. Oakbrook Investments LLC raised its stake in shares of Ingram Micro by 7.1% in the second quarter. Oakbrook Investments LLC now owns 7,500 shares of the company’s stock valued at $261,000 after buying an additional 500 shares during the last quarter. M&T Bank Corp raised its stake in shares of Ingram Micro by 13.7% in the first quarter. M&T Bank Corp now owns 9,847 shares of the company’s stock valued at $353,000 after buying an additional 1,184 shares during the last quarter. Finally, Balasa Dinverno & Foltz LLC raised its stake in shares of Ingram Micro by 9.0% in the second quarter. Balasa Dinverno & Foltz LLC now owns 18,347 shares of the company’s stock valued at $638,000 after buying an additional 1,509 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.
Ingram Micro Inc. (NYSE:IM) traded up 3.24% during trading on Friday, hitting $35.66. The stock had a trading volume of 2,313,870 shares. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 20.85 and a beta of 0.87. Ingram Micro Inc. has a 52-week low of $26.44 and a 52-week high of $36.66. The firm’s 50-day moving average price is $34.83 and its 200-day moving average price is $34.90.
Ingram Micro (NYSE:IM) last announced its earnings results on Thursday, July 28th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.12. Ingram Micro had a net margin of 0.64% and a return on equity of 10.03%. The business earned $10.10 billion during the quarter, compared to analysts’ expectations of $9.67 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The business’s revenue was down 4.1% compared to the same quarter last year. Analysts predict that Ingram Micro Inc. will post $2.62 EPS for the current fiscal year.
Several analysts recently commented on IM shares. Zacks Investment Research raised Ingram Micro from a “sell” rating to a “hold” rating in a report on Monday, July 4th. Jefferies Group reissued a “hold” rating on shares of Ingram Micro in a report on Thursday, September 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $35.75.
Ingram Micro Company Profile
Ingram Micro Inc (Ingram Micro) is engaged in the distribution of information technology (IT) products, supply chain services and mobile device lifecycle services around the world. The Company distributes and markets technology products all over the world from the industry’s computer hardware suppliers, mobility hardware suppliers, software publishers, consumer electronics (CE), automatic identification and data capture (AIDC)/point-of-sale (POS), and physical security products.
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