Ingram Micro (NYSE:INGM) Downgraded to “Hold” Rating by Zacks Research

Zacks Research cut shares of Ingram Micro (NYSE:INGM) from a strong-buy rating to a hold rating in a research note released on Wednesday morning,Zacks.com reports.

A number of other analysts have also recently commented on INGM. Morgan Stanley upped their price target on shares of Ingram Micro from $27.50 to $33.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 23rd. Wall Street Zen cut shares of Ingram Micro from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Royal Bank Of Canada lifted their price objective on Ingram Micro from $24.00 to $33.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. The Goldman Sachs Group reissued a “neutral” rating and issued a $33.00 price target on shares of Ingram Micro in a research note on Friday, July 31st. Finally, Truist Financial upped their target price on Ingram Micro from $29.00 to $31.00 and gave the stock a “hold” rating in a research note on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $31.00.

Ingram Micro Price Performance

INGM stock opened at $27.09 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 1.31. The company has a market capitalization of $6.25 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 0.66 and a beta of 1.75. The business has a 50-day simple moving average of $28.36 and a two-hundred day simple moving average of $26.33. Ingram Micro has a 52-week low of $18.77 and a 52-week high of $31.69.

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

Ingram Micro Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be issued a $0.086 dividend. This is an increase from Ingram Micro’s previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, August 11th. Ingram Micro’s dividend payout ratio (DPR) is presently 18.58%.

Insider Transactions at Ingram Micro

In related news, major shareholder Platinum Equity, Llc sold 5,167,069 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $29.03, for a total transaction of $150,000,013.07. Following the completion of the sale, the insider directly owned 177,466,319 shares in the company, valued at $5,151,847,240.57. This represents a 2.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Augusto Aragone sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the vice president owned 140,465 shares in the company, valued at approximately $4,213,950. The trade was a 6.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 5,227,069 shares of company stock valued at $151,765,013. 0.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ingram Micro

A number of hedge funds have recently modified their holdings of INGM. Royal Bank of Canada increased its holdings in Ingram Micro by 252.2% during the 1st quarter. Royal Bank of Canada now owns 1,472 shares of the company’s stock valued at $34,000 after purchasing an additional 1,054 shares during the period. Allworth Financial LP bought a new stake in shares of Ingram Micro in the 2nd quarter worth approximately $35,000. Meeder Asset Management Inc. bought a new stake in shares of Ingram Micro in the 2nd quarter worth approximately $44,000. Comerica Bank increased its stake in shares of Ingram Micro by 2,844.2% during the third quarter. Comerica Bank now owns 3,798 shares of the company’s stock valued at $82,000 after buying an additional 3,669 shares during the period. Finally, CWM LLC raised its holdings in shares of Ingram Micro by 20.5% during the fourth quarter. CWM LLC now owns 4,144 shares of the company’s stock valued at $88,000 after acquiring an additional 705 shares in the last quarter.

About Ingram Micro

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.