Ingram Micro Holding Corp.’s Lock-Up Period To Expire on April 22nd (NYSE:INGM)

Ingram Micro’s (NYSE:INGM) lock-up period will end on Tuesday, April 22nd. Ingram Micro had issued 18,600,000 shares in its public offering on October 24th. The total size of the offering was $409,200,000 based on an initial share price of $22.00. After the end of Ingram Micro’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analyst Upgrades and Downgrades

Several research analysts have commented on INGM shares. Evercore ISI decreased their price target on shares of Ingram Micro from $27.00 to $26.00 and set an “in-line” rating on the stock in a research note on Wednesday, March 5th. JPMorgan Chase & Co. decreased their target price on shares of Ingram Micro from $26.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday. Loop Capital cut their price target on shares of Ingram Micro from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Royal Bank of Canada lifted their price objective on Ingram Micro from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Finally, The Goldman Sachs Group dropped their target price on Ingram Micro from $33.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $26.21.

Ingram Micro Stock Performance

Shares of Ingram Micro stock opened at $16.16 on Friday. The company’s 50 day simple moving average is $19.20. Ingram Micro has a 52 week low of $14.25 and a 52 week high of $25.69. 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 (NYSE:INGM) last posted its earnings results on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, topping 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. As a group, equities research analysts forecast that Ingram Micro will post 2.71 EPS for the current fiscal year.

Ingram Micro announced that its board has authorized a stock buyback plan on Tuesday, March 4th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 1.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Ingram Micro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were paid a $0.074 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Tuesday, March 11th.

Institutional Investors Weigh In On Ingram Micro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System bought a new stake in shares of Ingram Micro during the 4th quarter valued at $26,000. Wells Fargo & Company MN bought a new stake in Ingram Micro during the fourth quarter worth about $45,000. Cohen & Steers Inc. purchased a new stake in Ingram Micro in the fourth quarter worth about $48,000. Tower Research Capital LLC TRC bought a new position in shares of Ingram Micro during the fourth quarter valued at approximately $52,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Ingram Micro by 5,873.5% during the first quarter. GAMMA Investing LLC now owns 4,062 shares of the company’s stock valued at $720,000 after purchasing an additional 3,994 shares during the last quarter.

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.