Ingram Micro (NYSE:INGM) Stock Breaks Below Two Hundred Day Moving Average – Time to Sell?

Ingram Micro Holding Corporation (NYSE:INGM)’s stock price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $26.41 and traded as low as $25.56. Ingram Micro shares last traded at $26.1250, with a volume of 3,562,464 shares traded.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Zacks Research upgraded Ingram Micro from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Morgan Stanley decreased their price target on shares of Ingram Micro from $33.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 16th. The Goldman Sachs Group restated a “neutral” rating and issued a $33.00 price objective on shares of Ingram Micro in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of Ingram Micro in a report on Monday, August 31st. They set a “hold” rating and a $30.00 price objective for the company. Finally, Truist Financial raised their price objective on shares of Ingram Micro from $29.00 to $31.00 and gave the stock a “hold” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Ingram Micro Stock Down 1.5%

The business has a 50-day simple moving average of $27.48 and a two-hundred day simple moving average of $26.41. The stock has a market capitalization of $6.01 billion, a P/E ratio of 13.19, a PEG ratio of 0.61 and a beta of 1.69. The company has a quick ratio of 0.88, a current ratio of 1.31 and a debt-to-equity ratio of 0.65.

Ingram Micro (NYSE:INGM) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.13. The firm had revenue of $15.22 billion during the quarter, compared to analyst estimates of $13.83 billion. Ingram Micro had a return on equity of 18.76% and a net margin of 0.79%. During the same period in the prior year, the company posted $0.72 earnings per share. Equities research analysts forecast that Ingram Micro Holding Corporation will post 3.52 earnings per share for the current fiscal year.

Ingram Micro Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 9th will be issued a $0.0880 dividend. This represents a $0.35 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, November 9th. This is a positive change from Ingram Micro’s previous quarterly dividend of $0.0860. Ingram Micro’s payout ratio is currently 17.17%.

Insider Activity

In related news, major shareholder Platinum Equity, Llc sold 1,968,750 shares of Ingram Micro stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $27.19, for a total transaction of $53,530,312.50. Following the completion of the transaction, the insider directly owned 162,372,569 shares of the company’s stock, valued at $4,414,910,151.11. This trade represents a 1.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of INGM. Fulcrum Asset Management LLP bought a new position in Ingram Micro in the third quarter valued at about $473,000. Allspring Global Investments Holdings LLC lifted its holdings in Ingram Micro by 19.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,188,414 shares of the company’s stock worth $33,026,000 after acquiring an additional 192,448 shares in the last quarter. Pictet Asset Management Holding SA bought a new stake in Ingram Micro during the 3rd quarter worth approximately $249,000. Covestor Ltd increased its position in shares of Ingram Micro by 31.9% during the third quarter. Covestor Ltd now owns 5,158 shares of the company’s stock worth $138,000 after acquiring an additional 1,247 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Ingram Micro in the 3rd quarter valued at about $265,000.

About Ingram Micro

Ingram Micro Inc is a global technology distribution and services company that connects technology manufacturers with businesses, resellers, systems integrators and other channel partners. Its portfolio includes hardware, software, cloud solutions, cybersecurity products, networking equipment, data-center technologies and communications solutions.

The company also provides value-added services such as cloud marketplace management, device lifecycle services, logistics, fulfillment, financing support, technical assistance and professional services.