Vanguard Group Inc. increased its position in shares of Ingram Micro Inc. (NYSE:IM) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,162,407 shares of the company’s stock after buying an additional 371,047 shares during the period. Vanguard Group Inc. owned approximately 7.46% of Ingram Micro worth $388,229,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new stake in shares of Ingram Micro during the first quarter valued at approximately $20,013,000. Glazer Capital LLC acquired a new stake in shares of Ingram Micro during the first quarter valued at approximately $970,000. Yakira Capital Management Inc. acquired a new stake in shares of Ingram Micro during the first quarter valued at approximately $3,998,000. Omni Partners LLP acquired a new stake in shares of Ingram Micro during the first quarter valued at approximately $3,591,000. Finally, Alpine Partners VI LLC acquired a new stake in shares of Ingram Micro during the first quarter valued at approximately $7,743,000. 83.72% of the stock is currently owned by institutional investors.
Shares of Ingram Micro Inc. (NYSE:IM) traded down 0.042% during trading on Thursday, hitting $36.015. The stock had a trading volume of 63,172 shares. Ingram Micro Inc. has a 1-year low of $26.44 and a 1-year high of $36.66. The firm has a 50-day moving average of $34.93 and a 200 day moving average of $34.88. The company has a market capitalization of $5.39 billion, a P/E ratio of 21.061 and a beta of 0.82.
Ingram Micro (NYSE:IM) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.12. The business had revenue of $10.10 billion for the quarter, compared to analysts’ expectations of $9.67 billion. Ingram Micro had a net margin of 0.64% and a return on equity of 10.03%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 earnings per share. Equities research analysts predict that Ingram Micro Inc. will post $2.62 earnings per share for the current fiscal year.
Several analysts have issued reports on IM shares. Zacks Investment Research raised Ingram Micro from a “sell” rating to a “hold” rating in a research note on Monday, July 4th. Jefferies Group reissued a “hold” rating on shares of Ingram Micro in a research note on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Ingram Micro currently has an average rating of “Hold” and a consensus target price 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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