Illumina, Inc. $ILMN Shares Purchased by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its stake in Illumina, Inc. by 14.4%, holding 69,845 shares valued at $6,664,000 as of the latest SEC filing.
• Multiple institutional investors have raised their stakes in Illumina, with 89.42% of the company's stock now owned by such investors.
• Illumina's recent earnings report showed a net margin of 29.36% with an EPS of $1.19, despite revenue declining by 4.8% year-over-year.

KLP Kapitalforvaltning AS grew its stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 14.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,845 shares of the life sciences company's stock after purchasing an additional 8,800 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Illumina were worth $6,664,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of ILMN. UMB Bank n.a. raised its stake in Illumina by 57.2% during the first quarter. UMB Bank n.a. now owns 1,110 shares of the life sciences company's stock valued at $88,000 after buying an additional 404 shares in the last quarter. Wedmont Private Capital acquired a new stake in shares of Illumina during the 1st quarter valued at approximately $207,000. Farther Finance Advisors LLC raised its position in shares of Illumina by 95.7% during the 1st quarter. Farther Finance Advisors LLC now owns 2,296 shares of the life sciences company's stock valued at $180,000 after acquiring an additional 1,123 shares in the last quarter. Wealthcare Advisory Partners LLC raised its position in shares of Illumina by 49.9% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,318 shares of the life sciences company's stock valued at $501,000 after acquiring an additional 2,104 shares in the last quarter. Finally, Legacy Trust raised its holdings in shares of Illumina by 5.0% during the first quarter. Legacy Trust now owns 13,298 shares of the life sciences company's stock worth $1,055,000 after purchasing an additional 632 shares during the period. Institutional investors and hedge funds own 89.42% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on ILMN shares. Weiss Ratings reissued a "sell (d+)" rating on shares of Illumina in a report on Wednesday. Citigroup lowered shares of Illumina from a "hold" rating to a "strong sell" rating and dropped their price objective for the stock from $85.00 to $80.00 in a research note on Wednesday, July 9th. Barclays increased their price objective on shares of Illumina from $90.00 to $95.00 and gave the stock an "underweight" rating in a research note on Thursday, October 2nd. Evercore ISI dropped their price target on Illumina from $135.00 to $132.00 and set an "outperform" rating on the stock in a research report on Tuesday. Finally, Stephens set a $110.00 price target on Illumina and gave the stock an "overweight" rating in a research report on Monday, August 4th. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $123.56.

Illumina Price Performance

Shares of NASDAQ:ILMN opened at $93.86 on Friday. The firm's 50 day moving average is $98.33 and its two-hundred day moving average is $90.21. Illumina, Inc. has a 52 week low of $68.70 and a 52 week high of $156.66. The firm has a market capitalization of $14.43 billion, a P/E ratio of 11.88, a PEG ratio of 2.33 and a beta of 1.40. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its earnings results on Thursday, July 31st. The life sciences company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.02 by $0.17. Illumina had a return on equity of 28.93% and a net margin of 29.36%.The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same period last year, the firm earned $0.36 EPS. The firm's revenue was down 4.8% compared to the same quarter last year. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. Analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current 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.

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