Illumina, Inc. (NASDAQ:ILMN) Shares Acquired by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Illumina, Inc. by 9.6%, now owning approximately $24.67 million worth of stock.
• Illumina's recent quarterly earnings report showed a net margin of 29.36% and an earnings per share of $1.19, exceeding analyst expectations.
• Analysts have set a consensus rating of "Hold" for Illumina's stock, with various price target adjustments, including Barclays raising their target to $90.00.

OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 9.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 310,480 shares of the life sciences company's stock after purchasing an additional 27,305 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.20% of Illumina worth $24,668,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ILMN. Rakuten Securities Inc. lifted its position in shares of Illumina by 290.3% in the 1st quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company's stock worth $29,000 after purchasing an additional 270 shares during the period. Center for Financial Planning Inc. bought a new stake in shares of Illumina during the 1st quarter valued at about $33,000. Fourth Dimension Wealth LLC bought a new position in shares of Illumina during the 4th quarter valued at approximately $40,000. PFS Partners LLC boosted its stake 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 acquiring an additional 400 shares during the period. Finally, Golden State Wealth Management LLC increased its holdings in Illumina by 123.2% in the 1st quarter. Golden State Wealth Management LLC now owns 529 shares of the life sciences company's stock valued at $42,000 after acquiring an additional 292 shares during the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Ankur Dhingra purchased 6,100 shares of the firm's stock in a transaction on Monday, May 12th. The shares were bought at an average cost of $81.21 per share, with a total value of $495,381.00. Following the purchase, the chief financial officer directly owned 24,906 shares of the company's stock, valued at approximately $2,022,616.26. This trade represents a 32.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.17% of the company's stock.

Illumina Stock Performance

Shares of NASDAQ ILMN traded up $3.78 during mid-day trading on Monday, hitting $98.44. 2,360,354 shares of the company were exchanged, compared to its average volume of 2,418,604. The stock has a 50 day simple moving average of $93.80 and a 200-day simple moving average of $92.28. Illumina, Inc. has a 1-year low of $68.70 and a 1-year 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 market cap of $15.58 billion, a price-to-earnings 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 announced 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 return on equity of 28.93% and a net margin of 29.36%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the company earned $0.36 EPS. The firm's revenue for the quarter was down 4.8% compared to the same quarter last year. On average, sell-side analysts forecast that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ILMN shares. Evercore ISI boosted their target price on Illumina from $116.00 to $128.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Barclays increased their price target on shares of Illumina from $85.00 to $90.00 and gave the stock an "underweight" rating in a report on Friday. JPMorgan Chase & Co. lowered their target price on shares of Illumina from $120.00 to $85.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Scotiabank cut 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, Canaccord Genuity Group increased their price target on shares of Illumina from $99.00 to $105.00 and gave the company a "hold" rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $127.47.

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.