Ingram Micro Inc. (NYSE:IM) shares dropped 1.5% during trading on Monday . The company traded as low as $35.09 and last traded at $35.10, with a volume of 1,004,082 shares changing hands. The stock had previously closed at $35.64.

Separately, Zacks Investment Research downgraded Ingram Micro from a “hold” rating to a “sell” rating in a report on Tuesday, March 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Ingram Micro has a consensus rating of “Hold” and an average target price of $33.50.

The stock has a market capitalization of $5.22 billion and a PE ratio of 31.42. The stock’s 50 day moving average price is $34.96 and its 200 day moving average price is $33.58.

Ingram Micro (NYSE:IM) last issued its quarterly earnings data on Friday, April 29th. The company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.18. The business earned $9.34 billion during the quarter, compared to the consensus estimate of $9.95 billion. Ingram Micro’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS. Equities analysts anticipate that Ingram Micro Inc. will post $2.46 earnings per share for the current year.

Several hedge funds and institutional investors recently modified their holdings of IM. PNC Financial Services Group Inc. boosted its position in shares of Ingram Micro by 2,382.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 34,010 shares of the company’s stock worth $1,034,000 after buying an additional 32,640 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Ingram Micro during the fourth quarter worth approximately $1,091,000. Aberdeen Asset Management PLC UK boosted its position in shares of Ingram Micro by 6.8% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 45,395 shares of the company’s stock worth $1,328,000 after buying an additional 2,885 shares in the last quarter. Stevens Capital Management LP boosted its position in shares of Ingram Micro by 303.2% in the fourth quarter. Stevens Capital Management LP now owns 64,937 shares of the company’s stock worth $1,973,000 after buying an additional 48,830 shares in the last quarter. Finally, State of Tennessee Treasury Department bought a new position in shares of Ingram Micro during the fourth quarter worth approximately $2,734,000.

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.

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