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Investing.com - BofA Securities raised its price target on Ingram Micro (NYSE:INGM) to $26.00 from $25.00 on Friday, while maintaining a Buy rating following the company’s third-quarter results.
Ingram Micro reported third-quarter revenue growth of 7.2% year-over-year, exceeding guidance, with earnings per share of $0.72 hitting the high end of the company’s projected range. The technology distributor saw particular strength in its Client and Endpoint Solutions segment, which grew 13% year-over-year in constant currency.
The company’s PC business showed robust performance with strong notebook and desktop sales, with management indicating further growth potential in the PC refresh cycle. AI-capable PCs now represent approximately 25% of Ingram Micro’s PC shipments, though the long-term impact on refresh cycles remains uncertain.
Advanced Solutions revenue declined 4.5% year-over-year as growth in servers and storage was offset by weaker sales in virtualization and infrastructure software, while networking growth was described as moderate. Cloud revenues fell 4% year-over-year, affected by the divestiture of the Cloud Blue platform as a service business completed in the third quarter.
BofA Securities views Ingram Micro as well-positioned compared to peers in the current economic environment, noting the company trades "meaningfully below" competitor TD Synnex (NYSE:SNX) and appears to be gaining market share despite competitive conditions.
In other recent news, Ingram Micro reported its Q3 2025 earnings, highlighting a revenue of $12.6 billion, which marks a 7.2% increase compared to the previous year. Despite this growth, the company’s earnings per share (EPS) were $0.72, falling short of the anticipated $0.79, resulting in an 8.86% negative surprise. This earnings miss was a significant development for the company. Analysts had projected higher earnings, and the shortfall might influence future evaluations. While the revenue growth is a positive indicator, the EPS miss could prompt analysts to reassess their forecasts. Recent updates also include analyst feedback, although specific firms’ opinions were not detailed in the provided context. Investors will be closely watching how Ingram Micro addresses these financial results in the coming quarters.
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