Arizona State Retirement System increased its position in Ingram Micro Inc. (NYSE:IM) by 0.9% during the third quarter, Holdings Channel reports. The institutional investor owned 58,449 shares of the company’s stock after buying an additional 500 shares during the period. Arizona State Retirement System’s holdings in Ingram Micro were worth $2,084,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Chicago Equity Partners LLC raised its stake in shares of Ingram Micro by 0.3% in the second quarter. Chicago Equity Partners LLC now owns 42,370 shares of the company’s stock worth $1,474,000 after buying an additional 140 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Ingram Micro by 3.7% in the second quarter. Mackenzie Financial Corp now owns 7,309 shares of the company’s stock worth $254,000 after buying an additional 263 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Ingram Micro by 1.5% in the second quarter. ProShare Advisors LLC now owns 18,566 shares of the company’s stock worth $646,000 after buying an additional 269 shares in the last quarter. Weaver C. Barksdale & Associates Inc. raised its stake in shares of Ingram Micro by 5.0% in the third quarter. Weaver C. Barksdale & Associates Inc. now owns 5,793 shares of the company’s stock worth $207,000 after buying an additional 278 shares in the last quarter. Finally, Eagle Boston Investment Management Inc. raised its stake in shares of Ingram Micro by 1.0% in the third quarter. Eagle Boston Investment Management Inc. now owns 27,296 shares of the company’s stock worth $973,000 after buying an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.
Shares of Ingram Micro Inc. (NYSE:IM) traded up 0.24% during mid-day trading on Monday, reaching $38.23. 6,312,930 shares of the company traded hands. The firm has a 50-day moving average price of $37.36 and a 200 day moving average price of $35.40. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 21.10 and a beta of 0.76. Ingram Micro Inc. has a 52 week low of $26.44 and a 52 week high of $38.92.
Ingram Micro (NYSE:IM) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.07. The business earned $10.23 billion during the quarter, compared to analyst estimates of $10.31 billion. Ingram Micro had a net margin of 0.67% and a return on equity of 10.00%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 earnings per share. On average, analysts anticipate that Ingram Micro Inc. will post $2.71 earnings per share for the current year.
A number of brokerages have recently commented on IM. Zacks Investment Research upgraded shares of Ingram Micro from a “hold” rating to a “strong-buy” rating and set a $39.00 price target for the company in a research note on Monday, August 1st. Jefferies Group reiterated a “hold” rating on shares of Ingram Micro in a research note on Thursday, September 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Ingram Micro has a consensus rating of “Hold” and a consensus price target of $37.50.
About Ingram Micro
Ingram Micro Inc (Ingram Micro) is engaged in the distribution of information technology (IT) products, supply chain services and mobile device lifecycle services around the world. The Company distributes and markets technology products all over the world from the industry’s computer hardware suppliers, mobility hardware suppliers, software publishers, consumer electronics (CE), automatic identification and data capture (AIDC)/point-of-sale (POS), and physical security products.