Illumina, Inc. $ILMN Shares Sold by Ion Asset Management Ltd.

Key Points

• Ion Asset Management Ltd. has reduced its stake in Illumina, Inc. by 8.3%, selling 66,771 shares and now holding 733,729 shares, making it the fifth largest holding for Ion.
• Several institutional investors increased their stakes in Illumina during the same quarter, with AQR Capital Management boosting its position by 361.7%.
• Illumina's recent quarterly earnings exceeded estimates, reporting $1.19 EPS against a consensus forecast of $1.02, but revenue declined by 4.8% year-over-year.

Ion Asset Management Ltd. trimmed its stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 8.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 733,729 shares of the life sciences company's stock after selling 66,771 shares during the period. Illumina comprises approximately 3.8% of Ion Asset Management Ltd.'s investment portfolio, making the stock its 5th biggest position. Ion Asset Management Ltd. owned approximately 0.46% of Illumina worth $58,214,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ILMN. Fourth Dimension Wealth LLC bought a new position in shares of Illumina in the 4th quarter worth about $40,000. Rakuten Securities Inc. lifted its holdings in shares of Illumina by 290.3% in the 1st quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company's stock worth $29,000 after purchasing an additional 270 shares in the last quarter. Center for Financial Planning Inc. bought a new position in shares of Illumina in the 1st quarter worth $33,000. PFS Partners LLC lifted its holdings in shares of Illumina by 400.0% in the 1st quarter. PFS Partners LLC now owns 500 shares of the life sciences company's stock worth $40,000 after purchasing an additional 400 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its position in Illumina by 123.2% in the 1st quarter. Golden State Wealth Management LLC now owns 529 shares of the life sciences company's stock valued at $42,000 after buying an additional 292 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ILMN shares. Canaccord Genuity Group upped their price objective on Illumina from $99.00 to $105.00 and gave the company a "hold" rating in a research note on Friday, August 1st. Barclays boosted their price objective on Illumina from $85.00 to $90.00 and gave the stock an "underweight" rating in a report on Friday, August 1st. Citigroup downgraded 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 report on Wednesday, July 9th. Daiwa America lowered Illumina from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 12th. Finally, Royal Bank Of Canada set a $124.00 price objective on Illumina in a report on Tuesday, September 2nd. Six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $123.06.

Illumina Trading Down 1.5%

Shares of NASDAQ ILMN traded down $1.47 during trading hours on Wednesday, reaching $96.76. The stock had a trading volume of 343,664 shares, compared to its average volume of 2,255,968. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66. The firm has a market cap of $14.87 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 2.21 and a beta of 1.43. The business's fifty day moving average price is $99.68 and its two-hundred day moving average price is $88.48. Illumina, Inc. has a 52-week low of $68.70 and a 52-week high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.12 billion. Illumina had a return on equity of 28.93% and a net margin of 29.36%.The firm's quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 earnings per share. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. Analysts expect that Illumina, Inc. will post 4.51 EPS for the current fiscal 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.