AE Wealth Management LLC Takes Position in Illumina, Inc. (NASDAQ:ILMN)

Key Points

• AE Wealth Management LLC acquired 28,717 shares of Illumina, Inc. valued at approximately $2.3 million during the first quarter, highlighting increased institutional interest in the company.
• Illumina's earnings results showed an EPS of $0.97 for the recent quarter, exceeding expectations, but with a revenue decline of 1.4% year-over-year.
• Analysts have varied price targets for Illumina, with the consensus target being $125.11 and ratings ranging from sell to outperform.

AE Wealth Management LLC acquired a new position in Illumina, Inc. (NASDAQ:ILMN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 28,717 shares of the life sciences company's stock, valued at approximately $2,278,000.

Several other large investors have also bought and sold shares of ILMN. Rakuten Securities Inc. grew its position in Illumina by 290.3% in the first quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company's stock worth $29,000 after buying an additional 270 shares during the last quarter. Center for Financial Planning Inc. bought a new stake in shares of Illumina during the 1st quarter worth $33,000. Fourth Dimension Wealth LLC bought a new stake in shares of Illumina during the 4th quarter worth $40,000. PFS Partners LLC grew its holdings in shares of Illumina by 400.0% in the 1st quarter. PFS Partners LLC now owns 500 shares of the life sciences company's stock worth $40,000 after acquiring an additional 400 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its stake in Illumina by 123.2% in the 1st quarter. Golden State Wealth Management LLC now owns 529 shares of the life sciences company's stock worth $42,000 after purchasing an additional 292 shares in the last quarter. Institutional investors own 89.42% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Evercore ISI raised their target price on shares of Illumina from $116.00 to $128.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Canaccord Genuity Group upped their price target on shares of Illumina from $87.00 to $99.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Piper Sandler lowered their price objective on shares of Illumina from $190.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. Guggenheim reduced their target price on Illumina from $122.00 to $114.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Barclays reaffirmed an "underweight" rating and issued a $85.00 target price (up previously from $77.00) on shares of Illumina in a research report on Tuesday, June 24th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $125.11.

Illumina Price Performance

NASDAQ ILMN opened at $109.30 on Friday. The company has a market cap of $17.30 billion, a P/E ratio of -18.01, a P/E/G ratio of 2.14 and a beta of 1.36. The company has a current ratio of 1.86, a quick ratio of 1.48 and a debt-to-equity ratio of 0.63. Illumina, Inc. has a 1 year low of $68.70 and a 1 year high of $156.66. The company has a fifty day simple moving average of $91.50 and a 200 day simple moving average of $93.77.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Illumina had a positive return on equity of 25.54% and a negative net margin of 22.25%. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 EPS. On average, sell-side analysts predict that Illumina, Inc. will post 4.51 EPS for the current year.

Insider Transactions at Illumina

In other news, CFO Ankur Dhingra bought 6,100 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the purchase, the chief financial officer owned 24,906 shares of the company's stock, valued at $2,022,616.26. This trade represents a 32.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is owned by corporate insiders.

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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