Illumina, Inc. $ILMN Shares Bought by Korea Investment CORP

Key Points

• Korea Investment CORP increased its stake in Illumina, Inc. by 74.5% in Q1, now holding approximately $9.77 million worth of shares.
• Illumina reported earnings of $1.19 per share, exceeding estimates, but its revenue of $1.06 billion fell short of analyst predictions for the quarter.
• The stock has received mixed analyst ratings, with a current consensus of "Hold" and a price target averaging $124.58.

Korea Investment CORP raised its stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 74.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 123,188 shares of the life sciences company's stock after acquiring an additional 52,600 shares during the quarter. Korea Investment CORP owned approximately 0.08% of Illumina worth $9,774,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Diversified Trust Co bought a new stake in shares of Illumina in the first quarter valued at approximately $355,000. State of Alaska Department of Revenue raised 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 purchasing an additional 445 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised 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 purchasing an additional 9,252 shares during the period. Merit Financial Group LLC raised 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 purchasing an additional 10,105 shares during the period. Finally, Citigroup Inc. raised 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 purchasing an additional 17,985 shares during the period. Institutional investors own 89.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Canaccord Genuity Group upped their target price on shares of Illumina from $99.00 to $105.00 and gave the stock a "hold" rating in a report on Friday, August 1st. Piper Sandler dropped their price target on shares of Illumina from $190.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. Robert W. Baird boosted 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. Scotiabank cut shares of Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 price target for the company. in a research report on Friday, July 11th. Finally, Barclays raised their price objective 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. Seven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $124.58.

Illumina Stock Down 2.1%

NASDAQ:ILMN traded down $2.14 during mid-day trading on Monday, reaching $99.66. The company's stock had a trading volume of 1,686,401 shares, compared to its average volume of 2,333,490. The firm has a market capitalization of $15.32 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 2.29 and a beta of 1.37. The stock has a fifty day moving average of $98.18 and a 200-day moving average of $88.64. Illumina, Inc. has a 1 year low of $68.70 and a 1 year high of $156.66. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.66.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its quarterly earnings data 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 net margin of 29.36% and a return on equity of 28.93%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm posted $0.36 EPS. Illumina's revenue was down 4.8% on a year-over-year basis. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. Equities research analysts forecast 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.