Alliancebernstein L.P. Lowers Stake in Illumina, Inc. $ILMN

Key Points

• Alliancebernstein L.P. drastically reduced its stake in Illumina, Inc. by 82% during the first quarter, selling 1,385,581 shares and holding only 303,278 shares thereafter.
• The stock performance shows a 52-week range with a low of $68.70 and a high of $156.66, and Illumina currently trades at approximately $98.22.
• Recent assessments by analysts resulted in a consensus rating of "Hold" for Illumina, with price targets ranging from $80.00 to $124.00.

Alliancebernstein L.P. cut its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 82.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 303,278 shares of the life sciences company's stock after selling 1,385,581 shares during the quarter. Alliancebernstein L.P. owned about 0.19% of Illumina worth $24,062,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rakuten Securities Inc. raised its stake in 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 buying an additional 270 shares during the last quarter. Center for Financial Planning Inc. purchased a new position in shares of Illumina in the first quarter worth about $33,000. Fourth Dimension Wealth LLC purchased a new position in shares of Illumina in the fourth quarter worth about $40,000. PFS Partners LLC raised its stake in shares of Illumina by 400.0% in the first quarter. PFS Partners LLC now owns 500 shares of the life sciences company's stock worth $40,000 after purchasing an additional 400 shares during the last quarter. Finally, Golden State Wealth Management LLC raised 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 purchasing an additional 292 shares during the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ILMN has been the topic of several analyst reports. Canaccord Genuity Group raised their target price on Illumina from $99.00 to $105.00 and gave the stock a "hold" rating in a report on Friday, August 1st. Scotiabank lowered Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 price objective on the stock. in a research note on Friday, July 11th. Stephens set a $110.00 price target on Illumina and gave the company an "overweight" rating in a research note on Monday, August 4th. Daiwa Capital Markets lowered Illumina from an "outperform" rating to a "neutral" rating and set a $94.00 target price on the stock. in a research note on Tuesday, August 12th. Finally, Daiwa America downgraded Illumina from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 12th. Six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Illumina currently has a consensus rating of "Hold" and an average price target of $123.06.

Illumina Price Performance

Illumina stock traded down $4.19 during mid-day trading on Friday, hitting $95.12. 1,516,428 shares of the company were exchanged, compared to its average volume of 1,251,591. 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 business's 50 day simple moving average is $99.56 and its two-hundred day simple moving average is $88.57. The company has a market capitalization of $14.62 billion, a P/E ratio of 12.04, a PEG ratio of 2.23 and a beta of 1.43. 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 quarterly earnings results 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. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.12 billion. Illumina had a return on equity of 28.93% and a net margin of 29.36%.Illumina's revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. Analysts forecast that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

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.