Illumina, Inc. (NASDAQ:ILMN) Position Cut by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC reduced its stake in Illumina, Inc. by 9.0%, now owning 295,769 shares valued at $23.47 million after selling 29,267 shares.
• Over 89% of Illumina's stock is owned by institutional investors, with significant increases from firms like Letko Brosseau & Associates Inc. and North Star Asset Management Inc. during the first quarter.
• Illumina has faced recent analyst downgrades, with JPMorgan lowering the price target from $120.00 to $85.00, indicating a cautious outlook on the stock.

Natixis Advisors LLC decreased its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 9.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 295,769 shares of the life sciences company's stock after selling 29,267 shares during the quarter. Natixis Advisors LLC owned about 0.19% of Illumina worth $23,467,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Rakuten Securities Inc. grew its position in Illumina by 290.3% in the 1st quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company's stock valued at $29,000 after purchasing an additional 270 shares during the period. Center for Financial Planning Inc. purchased a new stake in Illumina during the first quarter valued at about $33,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Illumina in the fourth quarter worth about $40,000. PFS Partners LLC lifted its holdings in shares of Illumina by 400.0% in the first quarter. PFS Partners LLC now owns 500 shares of the life sciences company's stock worth $40,000 after buying an additional 400 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its position in shares of Illumina by 123.2% in the first quarter. Golden State Wealth Management LLC now owns 529 shares of the life sciences company's stock worth $42,000 after purchasing an additional 292 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company's stock.

Illumina Price Performance

Shares of Illumina stock traded up $3.78 on Monday, hitting $98.44. The company's stock had a trading volume of 2,360,354 shares, compared to its average volume of 2,418,604. Illumina, Inc. has a 52-week low of $68.70 and a 52-week high of $156.66. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average price of $93.80 and a 200-day moving average price of $92.28. The company has a market capitalization of $15.58 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 1.75 and a beta of 1.37.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.17. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.12 billion. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The company's revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. On average, equities research analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Insider Activity at Illumina

In other Illumina news, CFO Ankur Dhingra bought 6,100 shares of Illumina stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the purchase, 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 legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.17% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on ILMN shares. Wall Street Zen cut shares of Illumina from a "buy" rating to a "hold" rating in a research report on Saturday. Barclays lifted their price objective on Illumina from $85.00 to $90.00 and gave the company an "underweight" rating in a research report on Friday. Guggenheim decreased their target price on shares of Illumina from $122.00 to $114.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Robert W. Baird raised their price objective on shares of Illumina from $84.00 to $105.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Finally, Morgan Stanley lifted their target price on shares of Illumina from $100.00 to $105.00 and gave the stock an "equal weight" rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $127.47.

About Illumina

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.