Mirae Asset Global Investments Co. Ltd. Sells 7,441 Shares of Illumina, Inc. (NASDAQ:ILMN)

Mirae Asset Global Investments Co. Ltd. decreased its position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 15.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,305 shares of the life sciences company's stock after selling 7,441 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Illumina were worth $3,224,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its stake in shares of Illumina by 19.1% in the 4th quarter. IFP Advisors Inc now owns 617 shares of the life sciences company's stock valued at $82,000 after purchasing an additional 99 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Illumina in the 4th quarter worth $901,000. Metis Global Partners LLC lifted its stake in Illumina by 6.4% in the fourth quarter. Metis Global Partners LLC now owns 3,803 shares of the life sciences company's stock worth $508,000 after purchasing an additional 228 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Illumina by 28.6% during the fourth quarter. Jones Financial Companies Lllp now owns 4,632 shares of the life sciences company's stock valued at $619,000 after buying an additional 1,030 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in Illumina during the fourth quarter valued at about $152,000. Institutional investors own 89.42% of the company's stock.

Illumina Trading Up 0.1%

NASDAQ ILMN traded up $0.10 during trading on Friday, hitting $100.44. The company had a trading volume of 1,423,748 shares, compared to its average volume of 2,144,110. The company's fifty day moving average is $84.58 and its 200-day moving average is $98.02. Illumina, Inc. has a one year low of $68.70 and a one year high of $156.66. The company has a current ratio of 1.86, a quick ratio of 1.48 and a debt-to-equity ratio of 0.63. The company has a market cap of $15.90 billion, a price-to-earnings ratio of -16.55, a price-to-earnings-growth ratio of 1.97 and a beta of 1.36.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. Illumina's quarterly revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ILMN has been the topic of several analyst reports. Piper Sandler decreased their price objective on Illumina from $190.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. Morgan Stanley reduced their price target on Illumina from $136.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Guggenheim decreased their price target on Illumina from $122.00 to $114.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Canaccord Genuity Group boosted their price objective on Illumina from $87.00 to $99.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Finally, Citigroup cut their target price on shares of Illumina from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $127.39.

Insider Buying and Selling at Illumina

In other news, CFO Ankur Dhingra bought 6,100 shares of the stock in a transaction dated Monday, May 12th. The stock was bought at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the purchase, the chief financial officer directly owned 24,906 shares in the company, valued at $2,022,616.26. This trade represents a 32.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.