Soros Fund Management LLC Invests $1.94 Million in Ingram Micro Holding Corp. (NYSE:INGM)

Soros Fund Management LLC purchased a new position in shares of Ingram Micro Holding Corp. (NYSE:INGM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 100,000 shares of the company’s stock, valued at approximately $1,939,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in INGM. Capital World Investors acquired a new position in Ingram Micro during the fourth quarter valued at $68,295,000. Victory Capital Management Inc. acquired a new position in shares of Ingram Micro in the 4th quarter valued at about $53,532,000. JPMorgan Chase & Co. purchased a new stake in shares of Ingram Micro in the fourth quarter worth about $37,793,000. American Century Companies Inc. acquired a new stake in Ingram Micro during the fourth quarter worth about $36,268,000. Finally, Wellington Management Group LLP purchased a new position in Ingram Micro during the fourth quarter valued at approximately $26,969,000.

Ingram Micro Trading Up 1.0 %

INGM stock opened at $18.00 on Wednesday. The company has a 50-day simple moving average of $18.32. Ingram Micro Holding Corp. has a 12 month low of $14.25 and a 12 month high of $25.69. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96.

Ingram Micro (NYSE:INGM) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.01. The company had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $13.21 billion. Sell-side analysts forecast that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current fiscal year.

Ingram Micro declared that its board has authorized a stock repurchase plan on Tuesday, March 4th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Ingram Micro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were issued a $0.074 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Tuesday, March 11th.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on INGM shares. JPMorgan Chase & Co. cut their target price on shares of Ingram Micro from $26.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Morgan Stanley cut their price objective on shares of Ingram Micro from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Jefferies Financial Group lowered their target price on shares of Ingram Micro from $28.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. Loop Capital reduced their price target on Ingram Micro from $30.00 to $25.00 and set a “buy” rating for the company in a report on Monday, March 10th. Finally, The Goldman Sachs Group dropped their price objective on Ingram Micro from $33.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.21.

About Ingram Micro

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.