Illumina, Inc. (NASDAQ:ILMN) Position Lifted by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 145.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,161 shares of the life sciences company's stock after acquiring an additional 76,596 shares during the quarter. Los Angeles Capital Management LLC owned about 0.08% of Illumina worth $10,248,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital World Investors boosted its holdings in shares of Illumina by 408.6% in the fourth quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company's stock valued at $2,408,721,000 after acquiring an additional 14,481,232 shares in the last quarter. WCM Investment Management LLC boosted its holdings in shares of Illumina by 1.2% in the first quarter. WCM Investment Management LLC now owns 4,179,011 shares of the life sciences company's stock valued at $334,321,000 after acquiring an additional 49,156 shares in the last quarter. Brown Advisory Inc. boosted its holdings in shares of Illumina by 52.1% in the first quarter. Brown Advisory Inc. now owns 2,909,228 shares of the life sciences company's stock valued at $230,818,000 after acquiring an additional 996,589 shares in the last quarter. Norges Bank purchased a new stake in shares of Illumina in the fourth quarter valued at about $228,714,000. Finally, Northern Trust Corp boosted its holdings in shares of Illumina by 26.9% in the fourth quarter. Northern Trust Corp now owns 1,652,935 shares of the life sciences company's stock valued at $220,882,000 after acquiring an additional 349,878 shares in the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on ILMN. Barclays reissued an "underweight" rating and set a $85.00 price objective (up previously from $77.00) on shares of Illumina in a report on Tuesday, June 24th. Citigroup downgraded shares of Illumina from a "hold" rating to a "strong sell" rating and decreased their price objective for the stock from $85.00 to $80.00 in a report on Wednesday, July 9th. Canaccord Genuity Group boosted their price objective on shares of Illumina from $87.00 to $99.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Piper Sandler decreased their price objective on shares of Illumina from $190.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. Finally, Evercore ISI boosted their price objective on shares of Illumina from $116.00 to $128.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Illumina has an average rating of "Hold" and an average price target of $125.11.

Illumina Trading Up 2.1%

ILMN stock traded up $2.22 on Thursday, hitting $106.83. 1,131,634 shares of the company were exchanged, compared to its average volume of 2,398,481. Illumina, Inc. has a twelve month low of $68.70 and a twelve month high of $156.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.86 and a quick ratio of 1.48. The business's fifty day moving average is $90.45 and its two-hundred day moving average is $94.51. The stock has a market capitalization of $16.91 billion, a price-to-earnings ratio of -17.60, a price-to-earnings-growth ratio of 1.99 and a beta of 1.36.

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

Insider Buying and Selling at Illumina

In other news, CFO Ankur Dhingra bought 6,100 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.60% of the company's stock.

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.