Kornitzer Capital Management Inc. KS Cuts Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Kornitzer Capital Management Inc. KS lowered its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 36.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,071 shares of the life sciences company's stock after selling 7,593 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Illumina were worth $1,037,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Envestnet Portfolio Solutions Inc. raised its stake in shares of Illumina by 4.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 15,580 shares of the life sciences company's stock valued at $2,082,000 after buying an additional 614 shares during the period. Signaturefd LLC raised its stake in shares of Illumina by 10.4% in the fourth quarter. Signaturefd LLC now owns 1,880 shares of the life sciences company's stock valued at $251,000 after buying an additional 177 shares during the period. Generali Asset Management SPA SGR bought a new stake in shares of Illumina in the fourth quarter valued at $924,000. Xponance Inc. raised its stake in shares of Illumina by 6.2% in the fourth quarter. Xponance Inc. now owns 26,498 shares of the life sciences company's stock valued at $3,541,000 after buying an additional 1,556 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Illumina by 6.0% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 283,175 shares of the life sciences company's stock valued at $37,841,000 after buying an additional 16,055 shares during the period. Hedge funds and other institutional investors own 89.42% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Scotiabank lowered Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 target price on the stock. in a research note on Friday, July 11th. Morgan Stanley lowered their target price on Illumina from $136.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. Evercore ISI boosted their target price on Illumina from $116.00 to $128.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Canaccord Genuity Group boosted their target price on Illumina from $87.00 to $99.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Finally, JPMorgan Chase & Co. lowered their target price on Illumina from $120.00 to $85.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Illumina currently has an average rating of "Hold" and an average target price of $125.11.

Insider Activity

In other news, CFO Ankur Dhingra acquired 6,100 shares of the business's stock in a transaction dated Monday, May 12th. The stock was purchased at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the acquisition, the chief financial officer owned 24,906 shares of the company's stock, valued at $2,022,616.26. This trade represents a 32.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.60% of the company's stock.

Illumina Price Performance

Shares of NASDAQ ILMN opened at $96.96 on Thursday. The firm has a market capitalization of $15.35 billion, a P/E ratio of -15.97, a P/E/G ratio of 1.91 and a beta of 1.36. The company has a quick ratio of 1.48, a current ratio of 1.86 and a debt-to-equity ratio of 0.63. The stock's 50-day simple moving average is $88.45 and its two-hundred day simple moving average is $95.70. Illumina, Inc. has a twelve month low of $68.70 and a twelve month high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Illumina had a positive return on equity of 25.54% and a negative net margin of 22.25%. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the prior year, the business earned $0.98 EPS. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities analysts anticipate that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

Illumina Company 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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