Legacy Trust Trims Stake in Illumina, Inc. $ILMN

Key Points

• Legacy Trust decreased its stake in Illumina, Inc. by 20.2% in Q2, holding 10,610 shares valued at $1,012,000 after selling 2,688 shares.
• Illumina reported earnings of $1.19 per share for Q2, exceeding expectations, despite a revenue decline of 4.8% year-over-year.
• Analysts have mixed views on Illumina's stock, with a consensus rating of "Hold" and a target price of $123.33, while several firms adjusted their target prices recently.

Legacy Trust reduced its holdings in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 20.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,610 shares of the life sciences company's stock after selling 2,688 shares during the period. Legacy Trust's holdings in Illumina were worth $1,012,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Moors & Cabot Inc. increased its holdings in Illumina by 2.5% during the first quarter. Moors & Cabot Inc. now owns 5,855 shares of the life sciences company's stock valued at $465,000 after buying an additional 145 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in Illumina by 3.0% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,604 shares of the life sciences company's stock valued at $445,000 after buying an additional 164 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in Illumina by 0.9% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 22,362 shares of the life sciences company's stock valued at $1,774,000 after buying an additional 207 shares during the last quarter. Rise Advisors LLC lifted its holdings in Illumina by 173.6% during the first quarter. Rise Advisors LLC now owns 353 shares of the life sciences company's stock valued at $28,000 after purchasing an additional 224 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Illumina by 9.8% in the second quarter. Farther Finance Advisors LLC now owns 2,521 shares of the life sciences company's stock worth $241,000 after purchasing an additional 225 shares during the period. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Trading Up 2.8%

ILMN stock opened at $102.12 on Friday. 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, Inc. has a twelve month low of $68.70 and a twelve month high of $156.66. The stock has a market capitalization of $15.70 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 2.46 and a beta of 1.40. The firm's fifty day simple moving average is $99.07 and its two-hundred day simple moving average is $89.88.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The life sciences company reported $1.19 earnings per share 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 business 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 earnings per share. The business's revenue was down 4.8% compared to the same quarter last year. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. As a group, analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ILMN shares. Robert W. Baird upped their price target on shares of Illumina from $84.00 to $105.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Illumina in a research report on Saturday, September 27th. Stephens set a $110.00 price target on shares of Illumina and gave the stock an "overweight" rating in a research report on Monday, August 4th. Scotiabank lowered 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, Morgan Stanley upped their price target on shares of Illumina from $100.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $123.33.

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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