Jacobs Levy Equity Management Inc. Purchases 1,152,048 Shares of Illumina, Inc. $ILMN

Key Points

• Jacobs Levy Equity Management Inc. significantly increased its stake in Illumina, Inc. by 11,714.9%, now owning over 1.16 million shares valued at approximately $92.18 million.
• Analysts have varied opinions on Illumina's stock, with price targets ranging from $84.00 to $190.00, reflecting mixed ratings from "buy" to "hold".
• Illumina reported a net margin of 29.36% for the last quarter, though its revenue declined by 4.8% year-over-year, totaling $1.06 billion against expectations of $1.12 billion.

Jacobs Levy Equity Management Inc. increased its position in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 11,714.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,161,882 shares of the life sciences company's stock after acquiring an additional 1,152,048 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.73% of Illumina worth $92,184,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Diversified Trust Co bought a new position in shares of Illumina in the first quarter valued at approximately $355,000. State of Alaska Department of Revenue boosted its position in shares of Illumina by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 18,527 shares of the life sciences company's stock valued at $1,469,000 after acquiring an additional 445 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Illumina by 4.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 199,176 shares of the life sciences company's stock valued at $15,803,000 after acquiring an additional 9,252 shares during the period. Merit Financial Group LLC boosted its position in shares of Illumina by 344.8% in the first quarter. Merit Financial Group LLC now owns 13,036 shares of the life sciences company's stock valued at $1,034,000 after acquiring an additional 10,105 shares during the period. Finally, Citigroup Inc. boosted its position in shares of Illumina by 13.5% in the first quarter. Citigroup Inc. now owns 150,764 shares of the life sciences company's stock valued at $11,962,000 after acquiring an additional 17,985 shares during the period. 89.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ILMN shares. Canaccord Genuity Group raised their price objective on shares of Illumina from $99.00 to $105.00 and gave the company a "hold" rating in a research report on Friday, August 1st. Barclays raised their target price on shares of Illumina from $85.00 to $90.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. Daiwa America downgraded shares of Illumina from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 12th. Daiwa Capital Markets downgraded shares of Illumina from an "outperform" rating to a "neutral" rating and set a $94.00 target price on the stock. in a research note on Tuesday, August 12th. Finally, Stephens set a $110.00 target price on shares of Illumina and gave the company an "overweight" rating in a research note on Monday, August 4th. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $123.06.

Illumina Stock Up 0.0%

Shares of ILMN stock traded up $0.04 during mid-day trading on Tuesday, reaching $98.22. 783,621 shares of the company's stock traded hands, compared to its average volume of 2,267,257. Illumina, Inc. has a 12 month low of $68.70 and a 12 month high of $156.66. The company has a market cap of $15.10 billion, a P/E ratio of 12.43, a P/E/G ratio of 2.22 and a beta of 1.43. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.66. The company's 50-day moving average price is $99.68 and its 200-day moving average price is $88.42.

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