Burkehill Global Management LP Makes New Investment in Ingram Micro Holding Corp. (NYSE:INGM)

Burkehill Global Management LP acquired a new stake in shares of Ingram Micro Holding Corp. (NYSE:INGM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 285,000 shares of the company’s stock, valued at approximately $5,526,000. Burkehill Global Management LP owned approximately 0.12% of Ingram Micro as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rhumbline Advisers acquired a new position in Ingram Micro during the 4th quarter valued at approximately $171,000. Bank of New York Mellon Corp purchased a new stake in shares of Ingram Micro during the fourth quarter valued at $207,000. New York State Common Retirement Fund acquired a new position in shares of Ingram Micro in the 4th quarter valued at $304,000. Keybank National Association OH purchased a new position in Ingram Micro in the 4th quarter worth $319,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Ingram Micro during the 4th quarter worth about $17,432,000.

Ingram Micro Trading Down 0.8 %

Shares of INGM stock opened at $18.93 on Thursday. Ingram Micro Holding Corp. has a 12-month low of $18.40 and a 12-month high of $25.69. The business’s 50 day simple moving average is $21.93. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.93.

Ingram Micro (NYSE:INGM) last released its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.01. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $13.21 billion. On average, equities analysts predict that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current year.

Ingram Micro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.074 per share. The ex-dividend date is Tuesday, March 11th. This represents a $0.30 annualized dividend and a yield of 1.56%.

Ingram Micro announced that its board has initiated a share buyback program on Tuesday, March 4th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to reacquire up to 1.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have recently issued reports on INGM. Melius started coverage on Ingram Micro in a research note on Tuesday, November 26th. They issued a “hold” rating and a $26.00 price objective for the company. Melius Research raised shares of Ingram Micro to a “hold” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group dropped their price objective on shares of Ingram Micro from $33.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Loop Capital reduced their target price on shares of Ingram Micro from $30.00 to $25.00 and set a “buy” rating for the company in a report on Monday. Finally, Stifel Nicolaus initiated coverage on shares of Ingram Micro in a research report on Monday, November 18th. They set a “buy” rating and a $28.00 target price for the company. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Ingram Micro has an average rating of “Moderate Buy” and an average target price of $26.93.

Ingram Micro 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.