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

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 109.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 593,287 shares of the life sciences company's stock after buying an additional 310,112 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned 0.37% of Illumina worth $47,071,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. raised its position in Illumina by 290.3% during the first 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. bought a new position in shares of Illumina during the 1st quarter valued at approximately $33,000. Fourth Dimension Wealth LLC purchased a new stake in Illumina during the 4th quarter valued at $40,000. PFS Partners LLC lifted its position in 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 during the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in Illumina by 123.2% during the first quarter. Golden State Wealth Management LLC now owns 529 shares of the life sciences company's stock worth $42,000 after buying an additional 292 shares during the period. Institutional investors own 89.42% of the company's stock.

Insider Buying and Selling at Illumina

In other news, CFO Ankur Dhingra acquired 6,100 shares of Illumina stock in a transaction dated Monday, May 12th. The stock was purchased 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.17% of the company's stock.

Illumina Stock Performance

ILMN stock traded down $0.72 during trading on Monday, reaching $98.53. The company had a trading volume of 2,090,742 shares, compared to its average volume of 2,408,871. The company has a market cap of $15.60 billion, a price-to-earnings ratio of -16.23, a price-to-earnings-growth ratio of 1.95 and a beta of 1.36. 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 quick ratio of 1.48 and a current ratio of 1.86. The firm has a 50-day simple moving average of $87.18 and a 200-day simple moving average of $95.94.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ILMN. Morgan Stanley lowered their target price on shares of Illumina from $136.00 to $100.00 and set an "equal weight" rating for the company in a report on Monday, May 12th. Stephens reiterated an "overweight" rating and issued a $105.00 price target on shares of Illumina in a report on Tuesday, May 20th. Canaccord Genuity Group lifted their target price on Illumina from $87.00 to $99.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Evercore ISI increased their price objective on Illumina from $116.00 to $128.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Finally, Barclays reiterated an "underweight" rating and set a $85.00 price objective (up from $77.00) on shares of Illumina in a research note on Tuesday, June 24th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $125.11.

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.