Blueshift Asset Management LLC Invests $309,000 in Illumina, Inc. (NASDAQ:ILMN)

Key Points

• Blueshift Asset Management LLC acquired 3,894 shares of Illumina, Inc. (NASDAQ:ILMN) valued at approximately $309,000, marking a new position for the firm in the company.
• Illumina reported earnings of $1.19 per share for the last quarter, exceeding analysts' forecasts, although the company's quarterly revenue declined by 4.8% year-over-year to $1.06 billion.
• Analysts have varied target price updates for Illumina, with the average price target at $127.21, and the stock currently holds a mixed rating with a majority classified as "Hold."

Blueshift Asset Management LLC acquired a new stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,894 shares of the life sciences company's stock, valued at approximately $309,000.

A number of other hedge funds have also recently added to or reduced their stakes in ILMN. Rakuten Securities Inc. boosted its position in shares of Illumina by 290.3% during the first quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company's stock valued at $29,000 after buying an additional 270 shares during the last quarter. Center for Financial Planning Inc. purchased a new position in shares of Illumina during the first quarter valued at approximately $33,000. Fourth Dimension Wealth LLC purchased a new position in shares of Illumina during the fourth quarter valued at approximately $40,000. PFS Partners LLC boosted its position in shares of Illumina by 400.0% during the first quarter. PFS Partners LLC now owns 500 shares of the life sciences company's stock valued at $40,000 after buying an additional 400 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its position in shares of Illumina by 123.2% during the first quarter. Golden State Wealth Management LLC now owns 529 shares of the life sciences company's stock valued at $42,000 after buying an additional 292 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company's stock.

Illumina Stock Performance

Shares of ILMN traded down $0.28 during trading hours on Tuesday, hitting $98.16. The stock had a trading volume of 116,270 shares, compared to its average volume of 2,397,157. The firm has a market capitalization of $15.54 billion, a PE ratio of 12.42, a PEG ratio of 1.75 and a beta of 1.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.81 and a quick ratio of 1.41. The stock has a fifty day moving average price of $94.16 and a 200 day moving average price of $92.01. Illumina, Inc. has a 12 month low of $68.70 and a 12 month high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last released its earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.17. Illumina had a return on equity of 28.93% and a net margin of 29.36%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business earned $0.36 earnings per share. Illumina's quarterly revenue was down 4.8% compared to the same quarter last year. Analysts anticipate that Illumina, Inc. will post 4.51 EPS for the current year.

Insider Activity at Illumina

In other Illumina news, CFO Ankur Dhingra purchased 6,100 shares of Illumina stock in a transaction dated Monday, May 12th. The shares were purchased at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the acquisition, the chief financial officer owned 24,906 shares in the company, valued at $2,022,616.26. This represents a 32.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen cut Illumina from a "buy" rating to a "hold" rating in a research report on Saturday. Piper Sandler cut their price objective on Illumina from $190.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. Citigroup cut Illumina from a "hold" rating to a "strong sell" rating and cut their price objective for the stock from $85.00 to $80.00 in a research report on Wednesday, July 9th. Evercore ISI boosted their target price on Illumina from $116.00 to $128.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, Barclays boosted their target price on Illumina from $85.00 to $90.00 and gave the company an "underweight" rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $127.47.

About Illumina

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.