Ingram Micro (NYSE:INGM) Downgraded by Wall Street Zen to Buy

Wall Street Zen cut shares of Ingram Micro (NYSE:INGM) from a strong-buy rating to a buy rating in a research report released on Sunday morning.

Several other analysts also recently issued reports on INGM. JPMorgan Chase & Co. raised shares of Ingram Micro from an “underweight” rating to a “neutral” rating and set a $27.00 price objective for the company in a research report on Wednesday, May 27th. Royal Bank Of Canada boosted their target price on shares of Ingram Micro from $24.00 to $33.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. Truist Financial upped their target price on shares of Ingram Micro from $29.00 to $31.00 and gave the company a “hold” rating in a research note on Tuesday, August 4th. Morgan Stanley raised their price target on shares of Ingram Micro from $27.50 to $33.00 and gave the company an “equal weight” rating in a report on Tuesday, June 23rd. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $34.00 price target on shares of Ingram Micro in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.00.

Ingram Micro Stock Down 0.4%

Shares of NYSE INGM opened at $28.43 on Friday. The stock has a fifty day moving average price of $28.48 and a 200 day moving average price of $26.15. The company has a current ratio of 1.31, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60. Ingram Micro has a 12-month low of $18.77 and a 12-month high of $31.69. The company has a market cap of $6.56 billion, a P/E ratio of 15.54, a P/E/G ratio of 0.70 and a beta of 1.75.

Ingram Micro (NYSE:INGM) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. Ingram Micro had a return on equity of 18.07% and a net margin of 0.77%.The company had revenue of $14.53 billion for the quarter, compared to analysts’ expectations of $13.85 billion. Ingram Micro has set its Q3 2026 guidance at 0.720-0.820 EPS. Research analysts anticipate that Ingram Micro will post 3.37 EPS for the current fiscal year.

Ingram Micro Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be paid a dividend of $0.086 per share. This is an increase from Ingram Micro’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, August 11th. This represents a $0.34 annualized dividend and a dividend yield of 1.2%. Ingram Micro’s dividend payout ratio (DPR) is currently 18.58%.

Insider Buying and Selling

In related news, major shareholder Platinum Equity, Llc sold 5,167,069 shares of Ingram Micro stock in a transaction on Monday, June 15th. The shares were sold at an average price of $29.03, for a total value of $150,000,013.07. Following the completion of the sale, the insider owned 177,466,319 shares in the company, valued at approximately $5,151,847,240.57. The trade was a 2.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Augusto Aragone sold 10,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the vice president directly owned 140,465 shares in the company, valued at $4,213,950. This represents a 6.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,227,069 shares of company stock valued at $151,765,013 in the last three months. Corporate insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Ingram Micro

Large investors have recently modified their holdings of the stock. Hussman Strategic Advisors Inc. bought a new stake in Ingram Micro during the 4th quarter valued at $896,000. Comerica Bank grew its stake in shares of Ingram Micro by 1,566.3% in the fourth quarter. Comerica Bank now owns 63,286 shares of the company’s stock worth $1,351,000 after purchasing an additional 59,488 shares in the last quarter. Pacer Advisors Inc. acquired a new position in shares of Ingram Micro during the first quarter valued at $3,907,000. Watershed Asset Management L.L.C. bought a new stake in shares of Ingram Micro during the first quarter valued at about $470,000. Finally, Sei Investments Co. raised its stake in shares of Ingram Micro by 73.8% during the first quarter. Sei Investments Co. now owns 88,762 shares of the company’s stock valued at $2,069,000 after purchasing an additional 37,680 shares in the last quarter.

Ingram Micro Company Profile

Ingram Micro, headquartered in Irvine, California, is a global technology distributor and supply chain services provider. Listed on the New York Stock Exchange under the ticker INGM, the company connects leading technology manufacturers, cloud providers and channel partners through an integrated portfolio of products and services. Ingram Micro’s end-to-end solutions span product distribution, cloud enablement, e-commerce, logistics and lifecycle management, enabling customers of all sizes to bring new technology to market efficiently.

The company’s offerings are organized across several core areas.