Ingram Micro Holding Corp. (NYSE:INGM) Declares Dividend Increase – $0.08 Per Share

Ingram Micro Holding Corp. (NYSE:INGM) announced a quarterly dividend on Thursday, May 8th, RTT News reports. Stockholders of record on Tuesday, May 20th will be paid a dividend of 0.076 per share on Tuesday, June 3rd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Tuesday, May 20th. This is a 2.7% increase from Ingram Micro’s previous quarterly dividend of $0.07.

Ingram Micro Price Performance

Shares of INGM stock opened at $20.43 on Friday. Ingram Micro has a 1 year low of $14.25 and a 1 year high of $25.69. The company’s fifty day simple moving average is $17.90. 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 issued its quarterly earnings data 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 business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $13.21 billion. Sell-side analysts forecast that Ingram Micro will post 2.71 EPS for the current year.

Ingram Micro declared that its Board of Directors has authorized a stock repurchase program on Tuesday, March 4th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to buy up to 1.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently weighed in on INGM. Loop Capital dropped 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, March 10th. Bank of America dropped their target price on shares of Ingram Micro from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. upped their target price on shares of Ingram Micro from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. The Goldman Sachs Group dropped their target price on shares of Ingram Micro from $29.00 to $25.00 and set a “buy” rating for the company in a report on Friday, May 9th. Finally, Jefferies Financial Group dropped their target price on shares of Ingram Micro from $28.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.79.

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.