Legato Capital Management LLC Increases Holdings in Illumina, Inc. (NASDAQ:ILMN)

Legato Capital Management LLC lifted its position in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 61.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,600 shares of the life sciences company's stock after purchasing an additional 8,986 shares during the quarter. Legato Capital Management LLC's holdings in Illumina were worth $1,872,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Fourth Dimension Wealth LLC purchased a new position in shares of Illumina in the fourth quarter worth about $40,000. Rakuten Securities Inc. grew its holdings in Illumina by 290.3% during the first quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company's stock worth $29,000 after acquiring an additional 270 shares during the period. Center for Financial Planning Inc. acquired a new stake in Illumina during the first quarter worth about $33,000. Murphy & Mullick Capital Management Corp acquired a new stake in Illumina during the fourth quarter worth about $61,000. Finally, PFS Partners LLC grew its holdings in Illumina by 400.0% during the first quarter. PFS Partners LLC now owns 500 shares of the life sciences company's stock worth $40,000 after acquiring an additional 400 shares during the period. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Ankur Dhingra acquired 6,100 shares of Illumina stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the transaction, the chief financial officer owned 24,906 shares in the company, valued at $2,022,616.26. This represents a 32.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on ILMN. Piper Sandler dropped their target price on Illumina from $190.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. JPMorgan Chase & Co. dropped their target price on Illumina from $120.00 to $85.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Stephens reaffirmed an "overweight" rating and set a $105.00 target price on shares of Illumina in a report on Tuesday, May 20th. Barclays reaffirmed an "underweight" rating and set a $85.00 target price (up from $77.00) on shares of Illumina in a report on Tuesday, June 24th. Finally, Canaccord Genuity Group raised their target price on Illumina from $87.00 to $99.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $125.11.

Illumina Price Performance

Shares of NASDAQ:ILMN traded up $1.66 during trading on Friday, reaching $109.30. The stock had a trading volume of 1,937,527 shares, compared to its average volume of 2,248,812. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.48 and a current ratio of 1.86. The business has a fifty day moving average price of $91.50 and a 200-day moving average price of $94.09. The stock has a market cap of $17.30 billion, a PE ratio of -18.01, a PEG ratio of 2.10 and a beta of 1.36. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Illumina had a positive return on equity of 25.54% and a negative net margin of 22.25%. The business's revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. On average, equities analysts forecast 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.