Corebridge Financial Inc. Decreases Stake in Illumina, Inc. $ILMN

Key Points

• Corebridge Financial Inc. has reduced its stake in Illumina, Inc. by 2.5% during the 1st quarter, now holding 174,966 shares valued at approximately $13.88 million after selling 4,499 shares.
• Illumina reported $1.19 EPS for the last quarter, exceeding analysts' expectations, although its revenue decreased by 4.8% year-over-year to $1.06 billion.
• Analysts have issued mixed ratings for Illumina, with target prices ranging from $80 to $185, reflecting varying outlooks on the company's stock performance.

Corebridge Financial Inc. lessened its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 174,966 shares of the life sciences company's stock after selling 4,499 shares during the period. Corebridge Financial Inc. owned 0.11% of Illumina worth $13,882,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Moors & Cabot Inc. raised its position in shares of Illumina by 2.5% during the 1st quarter. Moors & Cabot Inc. now owns 5,855 shares of the life sciences company's stock valued at $465,000 after buying an additional 145 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Illumina by 3.0% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,604 shares of the life sciences company's stock valued at $445,000 after buying an additional 164 shares in the last quarter. Probity Advisors Inc. raised its position in shares of Illumina by 12.2% during the 4th quarter. Probity Advisors Inc. now owns 2,054 shares of the life sciences company's stock valued at $274,000 after buying an additional 224 shares in the last quarter. Xponance Inc. raised its position in shares of Illumina by 1.0% during the 1st quarter. Xponance Inc. now owns 26,762 shares of the life sciences company's stock valued at $2,123,000 after buying an additional 264 shares in the last quarter. Finally, Rakuten Securities Inc. raised its position in shares of Illumina by 290.3% during the 1st 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 in the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on ILMN shares. Wall Street Zen cut shares of Illumina from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Robert W. Baird increased their price objective on shares of Illumina from $84.00 to $105.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Guggenheim reduced their price objective 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. Royal Bank Of Canada increased their price objective on shares of Illumina from $118.00 to $126.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, Barclays increased their price objective on shares of Illumina from $85.00 to $90.00 and gave the stock an "underweight" rating in a research report on Friday, August 1st. Six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $123.17.

Illumina Stock Up 0.8%

Shares of NASDAQ ILMN traded up $0.79 during midday trading on Friday, reaching $99.96. 1,009,106 shares of the company's stock traded hands, compared to its average volume of 1,732,308. The company has a market cap of $15.36 billion, a price-to-earnings ratio of 12.65, a P/E/G ratio of 2.25 and a beta of 1.37. Illumina, Inc. has a one year low of $68.70 and a one year high of $156.66. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.66. The stock's 50 day simple moving average is $99.10 and its 200-day simple moving average is $88.56.

Illumina (NASDAQ:ILMN - Get Free Report) last announced 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. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.12 billion. Illumina had a net margin of 29.36% and a return on equity of 28.93%. Illumina's revenue was down 4.8% compared to the same quarter last year. During the same period last year, the firm earned $0.36 earnings per share. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. On average, analysts predict that Illumina, Inc. will post 4.51 EPS 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.