Aberdeen Group plc Trims Holdings in Illumina, Inc. $ILMN

Key Points

• Aberdeen Group plc reduced its holdings in Illumina, Inc. by 8.5%, now owning 327,359 shares worth approximately $31.2 million.
• Illumina's stock received a mix of analyst ratings, with Citigroup downgrading it to "strong sell" and Barclays raising its target price from $90 to $95, reflecting ongoing market volatility.
• The company's recent earnings report showed $1.06 billion in revenue but fell short of analysts' expectations, contributing to a 4.8% year-over-year decline.

Aberdeen Group plc lowered its position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 8.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 327,359 shares of the life sciences company's stock after selling 30,493 shares during the quarter. Aberdeen Group plc owned 0.21% of Illumina worth $31,233,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ILMN. Rise Advisors LLC lifted its stake in shares of Illumina by 173.6% during the 1st quarter. Rise Advisors LLC now owns 353 shares of the life sciences company's stock valued at $28,000 after buying an additional 224 shares in the last quarter. Rakuten Securities Inc. lifted its position in shares of Illumina by 290.3% in the first quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company's stock valued at $29,000 after acquiring an additional 270 shares in the last quarter. Center for Financial Planning Inc. bought a new position in shares of Illumina in the first quarter worth about $33,000. Golden State Wealth Management LLC boosted its stake in shares of Illumina by 123.2% in the first quarter. Golden State Wealth Management LLC now owns 529 shares of the life sciences company's stock worth $42,000 after acquiring an additional 292 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Illumina by 2,936.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 577 shares of the life sciences company's stock worth $46,000 after purchasing an additional 558 shares in the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ILMN has been the subject of several recent analyst reports. Citigroup downgraded Illumina from a "hold" rating to a "strong sell" rating and dropped their price target for the stock from $85.00 to $80.00 in a research note on Wednesday, July 9th. Barclays upped their target price on shares of Illumina from $90.00 to $95.00 and gave the stock an "underweight" rating in a research report on Thursday, October 2nd. Daiwa America downgraded shares of Illumina from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 12th. Weiss Ratings restated a "sell (d+)" rating on shares of Illumina in a research report on Wednesday, October 8th. Finally, Robert W. Baird lifted their target price on Illumina from $84.00 to $105.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $123.56.

Illumina Stock Down 2.7%

Shares of NASDAQ ILMN opened at $93.86 on Monday. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66. Illumina, Inc. has a 12-month low of $68.70 and a 12-month high of $156.66. The firm's 50-day moving average price is $98.33 and its 200-day moving average price is $90.32. The stock has a market capitalization of $14.43 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 2.26 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, topping 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 analysts' expectations of $1.12 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm's revenue for the quarter was down 4.8% on a year-over-year basis. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. On average, equities research analysts anticipate that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

Illumina 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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