Illumina, Inc. (NASDAQ:ILMN) Stock Position Raised by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC boosted its position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 22.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 295,597 shares of the life sciences company's stock after purchasing an additional 53,590 shares during the period. Stephens Investment Management Group LLC owned 0.19% of Illumina worth $23,453,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ILMN. Capital World Investors boosted its stake in shares of Illumina by 408.6% during the 4th quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company's stock valued at $2,408,721,000 after buying an additional 14,481,232 shares during the period. WCM Investment Management LLC boosted its position in Illumina by 1.2% during the first quarter. WCM Investment Management LLC now owns 4,179,011 shares of the life sciences company's stock valued at $334,321,000 after purchasing an additional 49,156 shares during the last quarter. Brown Advisory Inc. grew its stake in Illumina by 52.1% in the first quarter. Brown Advisory Inc. now owns 2,909,228 shares of the life sciences company's stock valued at $230,818,000 after purchasing an additional 996,589 shares in the last quarter. Norges Bank acquired a new position in Illumina in the 4th quarter worth about $228,714,000. Finally, Northern Trust Corp raised its stake in shares of Illumina by 26.9% during the 4th quarter. Northern Trust Corp now owns 1,652,935 shares of the life sciences company's stock worth $220,882,000 after purchasing an additional 349,878 shares in the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Canaccord Genuity Group raised their target price on Illumina from $87.00 to $99.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Citigroup lowered Illumina from a "hold" rating to a "strong sell" rating and reduced their target price for the stock from $85.00 to $80.00 in a report on Wednesday, July 9th. Scotiabank downgraded Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 price target on the stock. in a report on Friday. Piper Sandler dropped their price target on shares of Illumina from $190.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. Finally, Guggenheim decreased their price objective on shares of Illumina from $122.00 to $114.00 and set a "buy" rating for the company in a report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Illumina has an average rating of "Hold" and an average price target of $125.11.

Illumina Stock Down 0.8%

ILMN opened at $99.25 on Monday. The stock has a fifty day moving average of $87.18 and a 200-day moving average of $95.94. The company has a market capitalization of $15.71 billion, a P/E ratio of -16.35, a P/E/G ratio of 1.95 and a beta of 1.36. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.48 and a current ratio of 1.86.

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

Insiders Place Their Bets

In related news, CFO Ankur Dhingra bought 6,100 shares of Illumina stock in a transaction dated Monday, May 12th. The shares were bought at an average cost of $81.21 per share, with a total value of $495,381.00. Following the acquisition, the chief financial officer owned 24,906 shares in the company, valued at $2,022,616.26. This trade represents a 32.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.17% of the stock is owned by corporate insiders.

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.

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