Key Points
- Platinum Equity sold 5,167,069 shares of Ingram Micro on June 15 at an average price of $29.03, totaling about $150 million. The sale reduced its ownership by 2.83%, though it still holds more than 177 million shares.
- Earlier, Platinum Equity also sold 14,471,153 shares on May 7 for about $361.2 million, indicating a continued large-scale reduction in its stake.
- Ingram Micro has reported solid recent fundamentals, including quarterly EPS of $0.75 versus estimates of $0.70 and revenue of $13.96 billion, while also raising its quarterly dividend and authorizing a $100 million share buyback.
Ingram Micro Holding Corporation (NYSE:INGM - Get Free Report) major shareholder Platinum Equity, Llc sold 5,167,069 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $29.03, for a total transaction of $150,000,013.07. Following the completion of the transaction, the insider directly owned 177,466,319 shares in the company, valued at approximately $5,151,847,240.57. This represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Platinum Equity, Llc also recently made the following trade(s):
- On Thursday, May 7th, Platinum Equity, Llc sold 14,471,153 shares of Ingram Micro stock. The stock was sold at an average price of $24.96, for a total value of $361,199,978.88.
Ingram Micro Price Performance
Ingram Micro stock opened at $28.48 on Thursday. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 0.85 and a beta of 1.78. The company has a current ratio of 1.31, a quick ratio of 0.93 and a debt-to-equity ratio of 0.61. Ingram Micro Holding Corporation has a 12 month low of $18.09 and a 12 month high of $31.69. The stock's 50 day moving average is $28.30 and its 200-day moving average is $24.17.
Ingram Micro (NYSE:INGM - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. Ingram Micro had a return on equity of 17.19% and a net margin of 0.66%.The business had revenue of $13.96 billion during the quarter, compared to the consensus estimate of $12.76 billion. The firm's revenue for the quarter was up 13.7% compared to the same quarter last year. Ingram Micro has set its Q2 2026 guidance at 0.680-0.780 EPS. Equities research analysts expect that Ingram Micro Holding Corporation will post 3.27 EPS for the current year.
Ingram Micro announced that its Board of Directors has initiated a share buyback plan on Monday, March 2nd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.
Ingram Micro Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were given a $0.084 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This is a boost from Ingram Micro's previous quarterly dividend of $0.08. This represents a $0.34 dividend on an annualized basis and a dividend yield of 1.2%. Ingram Micro's dividend payout ratio (DPR) is presently 22.52%.
Analysts Set New Price Targets
Several brokerages have weighed in on INGM. William Blair reiterated an "outperform" rating on shares of Ingram Micro in a research note on Tuesday, March 3rd. Royal Bank Of Canada increased 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. JPMorgan Chase & Co. raised shares of Ingram Micro from an "underweight" rating to a "neutral" rating and set a $27.00 target price on the stock in a report on Wednesday, May 27th. Morgan Stanley lifted their price target on shares of Ingram Micro from $21.00 to $23.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 3rd. Finally, Weiss Ratings upgraded Ingram Micro from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, Ingram Micro has a consensus rating of "Hold" and an average target price of $28.86.
Get Our Latest Stock Analysis on INGM
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in Ingram Micro by 225.1% during the first quarter. Bank of America Corp DE now owns 1,038,331 shares of the company's stock worth $24,203,000 after buying an additional 718,970 shares in the last quarter. Amundi acquired a new position in shares of Ingram Micro in the 1st quarter valued at approximately $1,668,000. Readystate Asset Management LP bought a new stake in shares of Ingram Micro during the 1st quarter worth approximately $1,244,000. Royal Bank of Canada boosted its position in shares of Ingram Micro by 252.2% during the 1st quarter. Royal Bank of Canada now owns 1,472 shares of the company's stock worth $34,000 after acquiring an additional 1,054 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of Ingram Micro by 11.0% during the 1st quarter. Quantinno Capital Management LP now owns 116,032 shares of the company's stock worth $2,705,000 after acquiring an additional 11,519 shares in the last quarter.
About Ingram Micro
(
Get Free Report)
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.
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