Diamond Hill Capital Management Inc. Buys Shares of 328,973 Illumina, Inc. (NASDAQ:ILMN)

Diamond Hill Capital Management Inc. acquired a new stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 328,973 shares of the life sciences company's stock, valued at approximately $26,101,000. Diamond Hill Capital Management Inc. owned about 0.21% of Illumina as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rakuten Securities Inc. increased its position in Illumina by 290.3% during 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 during the last quarter. Center for Financial Planning Inc. bought a new stake in Illumina during the first quarter valued at approximately $33,000. Fourth Dimension Wealth LLC bought a new stake in Illumina during the fourth quarter valued at approximately $40,000. PFS Partners LLC raised its position in 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 acquiring an additional 400 shares during the period. Finally, Golden State Wealth Management LLC boosted its stake in shares of Illumina by 123.2% during the 1st 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 last quarter. Institutional investors own 89.42% of the company's stock.

Analyst Ratings Changes

ILMN has been the topic of several recent analyst reports. Piper Sandler decreased their target price on Illumina from $190.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. Royal Bank Of Canada decreased their price objective on shares of Illumina from $128.00 to $112.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley reduced their price target on Illumina from $136.00 to $100.00 and set an "equal weight" rating on the stock in a report on Monday, May 12th. Guggenheim reduced their price target on shares of Illumina from $122.00 to $114.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Illumina from $120.00 to $85.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Illumina presently has an average rating of "Hold" and a consensus price target of $125.11.

Insider Buying and Selling

In other news, CFO Ankur Dhingra purchased 6,100 shares of the company's stock in a transaction on Monday, May 12th. The stock was bought 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 directly owned 24,906 shares of the company's stock, valued at $2,022,616.26. The trade was a 32.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.60% of the company's stock.

Illumina Price Performance

Illumina stock traded up $1.66 during mid-day trading on Friday, reaching $109.30. The company had a trading volume of 1,937,527 shares, compared to its average volume of 2,248,812. The company has a market capitalization 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 debt-to-equity ratio of 0.63, a current ratio of 1.86 and a quick ratio of 1.48. The stock's 50-day simple moving average is $91.50 and its 200-day simple moving average is $93.77. Illumina, Inc. has a 1 year low of $68.70 and a 1 year high of $156.66.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Illumina had a negative net margin of 22.25% and a positive return on equity of 25.54%. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. The firm's quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities analysts predict that Illumina, Inc. will post 4.51 EPS for the current 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.