California State Teachers Retirement System Trims Stock Position in Illumina, Inc. (NASDAQ:ILMN)

California State Teachers Retirement System lessened its stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,102 shares of the life sciences company's stock after selling 18,443 shares during the period. California State Teachers Retirement System owned approximately 0.16% of Illumina worth $33,822,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Golden State Wealth Management LLC bought a new stake in shares of Illumina in the 4th quarter worth approximately $32,000. Fourth Dimension Wealth LLC bought a new stake in Illumina during the 4th quarter valued at $40,000. Assetmark Inc. raised its holdings in Illumina by 954.8% during the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company's stock valued at $44,000 after buying an additional 296 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Illumina during the 4th quarter valued at $45,000. Finally, Lee Danner & Bass Inc. bought a new stake in Illumina during the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 89.42% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ILMN. JPMorgan Chase & Co. reduced their price objective on shares of Illumina from $120.00 to $85.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Robert W. Baird reduced their target price on shares of Illumina from $127.00 to $90.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 5th. Royal Bank of Canada reduced their target price on shares of Illumina from $128.00 to $112.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Stephens reaffirmed an "overweight" rating and issued a $105.00 target price on shares of Illumina in a research report on Tuesday, May 20th. Finally, Guggenheim reduced their target price on shares of Illumina from $122.00 to $114.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $128.15.

Illumina Price Performance

ILMN traded down $2.91 during trading on Friday, reaching $81.37. The company's stock had a trading volume of 3,660,293 shares, compared to its average volume of 2,333,387. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. The firm has a fifty day simple moving average of $77.73 and a two-hundred day simple moving average of $106.64. Illumina, Inc. has a 1 year low of $68.70 and a 1 year high of $156.66. The company has a market cap of $12.88 billion, a price-to-earnings ratio of -10.60, a PEG ratio of 1.60 and a beta of 1.35.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. The business's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.98 EPS. As a group, analysts anticipate 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 firm's stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $81.21 per share, with a total value of $495,381.00. Following the transaction, the chief financial officer now directly owns 24,906 shares in the company, valued at $2,022,616.26. This trade represents a 32.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.60% of the company's stock.

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.