3,608 Shares in Illumina, Inc. $ILMN Bought by Allegiance Financial Group Advisory Services LLC

Key Points

• Allegiance Financial Group Advisory Services LLC has purchased 3,608 shares of Illumina, Inc., valued at approximately $344,000, marking a new investment in the life sciences company.
• Illumina reported earnings of $1.19 per share for the last quarter, surpassing analysts' expectations of $1.02, despite a 4.8% revenue decline year-over-year.
• Institutional investors now own 89.42% of Illumina's stock, with various hedge funds adjusting their stakes, reflecting increasing interest from the investment community.

Allegiance Financial Group Advisory Services LLC acquired a new position in Illumina, Inc. (NASDAQ:ILMN - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,608 shares of the life sciences company's stock, valued at approximately $344,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Diversified Trust Co acquired a new position in Illumina in the first quarter worth $355,000. Bourgeon Capital Management LLC boosted its holdings in Illumina by 76.4% in the second quarter. Bourgeon Capital Management LLC now owns 141,896 shares of the life sciences company's stock worth $13,538,000 after purchasing an additional 61,468 shares during the period. GC Wealth Management RIA LLC acquired a new position in Illumina in the second quarter worth $2,289,000. State of Alaska Department of Revenue boosted its holdings in Illumina by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 18,527 shares of the life sciences company's stock worth $1,469,000 after purchasing an additional 445 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in Illumina by 171.2% in the first quarter. Acadian Asset Management LLC now owns 32,921 shares of the life sciences company's stock worth $2,608,000 after purchasing an additional 20,784 shares during the period. Institutional investors and hedge funds own 89.42% of the company's stock.

Illumina Price Performance

Shares of NASDAQ ILMN opened at $97.78 on Thursday. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. The firm's 50-day simple moving average is $98.47 and its 200 day simple moving average is $90.11. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.66. The stock has a market cap of $15.03 billion, a P/E ratio of 12.38, a P/E/G ratio of 2.33 and a beta of 1.40.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The life sciences company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.17. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the previous year, the business earned $0.36 earnings per share. The company's revenue was down 4.8% on a year-over-year basis. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. Equities analysts expect that Illumina, Inc. will post 4.51 EPS for the current year.

Wall Street Analysts Forecast Growth

ILMN has been the subject of a number of research reports. Barclays lifted their price objective on shares of Illumina from $90.00 to $95.00 and gave the stock an "underweight" rating in a report on Thursday, October 2nd. Weiss Ratings reissued a "sell (d+)" rating on shares of Illumina in a report on Wednesday. Robert W. Baird boosted their price target on shares of Illumina from $84.00 to $105.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Morgan Stanley boosted their price target on shares of Illumina from $100.00 to $105.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Finally, Citigroup downgraded shares of Illumina from a "hold" rating to a "strong sell" rating and reduced their price target for the company from $85.00 to $80.00 in a report on Wednesday, July 9th. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $123.56.

Illumina Company Profile

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.

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