Illumina, Inc. (NASDAQ:ILMN) Position Boosted by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP increased its stake in Illumina, Inc. by 73.3% in Q1, owning 7,103 shares valued at $564,000, reflecting a strong institutional investment trend.
• Illumina's stock price rose by 4.0%, reaching $98.44, with a market cap of $15.58 billion and a recent earnings report showing better-than-expected EPS of $1.19, despite a slight revenue decline.
• Analyst ratings are mixed: Morgan Stanley raised its price target to $105, while Guggenheim reduced its target to $114, leaving Illumina with a consensus rating of "Hold."

GSA Capital Partners LLP boosted its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 73.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,103 shares of the life sciences company's stock after acquiring an additional 3,004 shares during the quarter. GSA Capital Partners LLP's holdings in Illumina were worth $564,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Federated Hermes Inc. grew its stake in Illumina by 55.4% in the first quarter. Federated Hermes Inc. now owns 806,759 shares of the life sciences company's stock valued at $64,008,000 after purchasing an additional 287,569 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Illumina by 41.0% during the 1st quarter. Mackenzie Financial Corp now owns 29,886 shares of the life sciences company's stock worth $2,371,000 after purchasing an additional 8,692 shares during the last quarter. LPL Financial LLC lifted its position in shares of Illumina by 10.5% during the 1st quarter. LPL Financial LLC now owns 91,606 shares of the life sciences company's stock worth $7,268,000 after purchasing an additional 8,739 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Illumina by 4.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 199,176 shares of the life sciences company's stock worth $15,803,000 after purchasing an additional 9,252 shares during the last quarter. Finally, ARK Investment Management LLC raised its holdings in Illumina by 30.5% in the 1st quarter. ARK Investment Management LLC now owns 895,319 shares of the life sciences company's stock valued at $71,035,000 after acquiring an additional 208,989 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Price Performance

NASDAQ ILMN traded down $0.68 during trading hours on Tuesday, reaching $97.76. The company's stock had a trading volume of 2,482,660 shares, compared to its average volume of 2,392,745. The stock has a market cap of $15.03 billion, a PE ratio of 12.37, a PEG ratio of 2.21 and a beta of 1.37. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. The company's 50-day moving average is $94.16 and its two-hundred day moving average is $92.01. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.41 and a current ratio of 1.81.

Illumina (NASDAQ:ILMN - Get Free Report) last released its earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.17. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same period last year, the company earned $0.36 earnings per share. The company's quarterly revenue was down 4.8% on a year-over-year basis. Analysts forecast that Illumina, Inc. will post 4.51 EPS for the current year.

Insider Activity

In other Illumina news, CFO Ankur Dhingra acquired 6,100 shares of the firm's stock in a transaction on Monday, May 12th. The stock was purchased at an average price of $81.21 per share, with a total value of $495,381.00. Following the completion of the acquisition, the chief financial officer directly owned 24,906 shares in the company, valued at $2,022,616.26. This trade represents a 32.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.17% of the company's stock.

Analysts Set New Price Targets

ILMN has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on Illumina from $100.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Monday. Piper Sandler decreased their price objective on Illumina from $190.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Wall Street Zen cut Illumina from a "buy" rating to a "hold" rating in a report on Saturday. Guggenheim dropped their price target on shares of Illumina from $122.00 to $114.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Robert W. Baird lifted their price target on shares of Illumina from $84.00 to $105.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Illumina presently has an average rating of "Hold" and an average target price of $127.47.

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.