Pallas Capital Advisors LLC Acquires 16,800 Shares of Illumina, Inc. $ILMN

Key Points

• Pallas Capital Advisors LLC increased its stake in Illumina, Inc. by 161.0% during the second quarter, acquiring an additional 16,800 shares, bringing its total holdings to 27,234 shares valued at $2,598,000.
• Analysts have mixed ratings for Illumina, with six analysts assigning a Buy rating, eleven a Hold rating, and two a Sell rating, while the company has a consensus price target of $123.06.
• Illumina reported $1.19 EPS for the last quarter, surpassing estimates, despite a 4.8% year-over-year revenue decline, with a revenue of $1.06 billion against an estimate of $1.12 billion.

Pallas Capital Advisors LLC boosted its position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 161.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,234 shares of the life sciences company's stock after purchasing an additional 16,800 shares during the period. Pallas Capital Advisors LLC's holdings in Illumina were worth $2,598,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new position in Illumina in the fourth quarter valued at about $40,000. Rise Advisors LLC boosted its position in shares of Illumina by 173.6% during the first quarter. Rise Advisors LLC now owns 353 shares of the life sciences company's stock worth $28,000 after acquiring an additional 224 shares during the last quarter. Rakuten Securities Inc. raised its stake in shares of Illumina by 290.3% in the first quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company's stock valued at $29,000 after acquiring an additional 270 shares during the period. Center for Financial Planning Inc. bought a new stake in shares of Illumina in the 1st quarter valued at about $33,000. Finally, PFS Partners LLC increased its holdings in shares of Illumina by 400.0% during the 1st quarter. PFS Partners LLC now owns 500 shares of the life sciences company's stock valued at $40,000 after purchasing an additional 400 shares in the last quarter. 89.42% of the stock is owned by institutional investors.

Illumina Stock Down 0.3%

NASDAQ ILMN traded down $0.28 on Friday, hitting $102.75. 3,621,712 shares of the stock were exchanged, compared to its average volume of 1,309,960. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. The company has a market cap of $15.79 billion, a PE ratio of 13.01, a PEG ratio of 2.31 and a beta of 1.43. 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 company has a 50-day moving average price of $99.78 and a 200-day moving average price of $89.06.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.17. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same period last 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. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. Sell-side analysts anticipate that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Daiwa Capital Markets downgraded Illumina from an "outperform" rating to a "neutral" rating and set a $94.00 price objective for the company. in a report on Tuesday, August 12th. Stephens set a $110.00 price target on Illumina and gave the stock an "overweight" rating in a research note on Monday, August 4th. Daiwa America cut Illumina from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 12th. Barclays increased their target price on Illumina from $85.00 to $90.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. Finally, Canaccord Genuity Group raised their price objective on Illumina from $99.00 to $105.00 and gave the company a "hold" rating in a research report on Friday, August 1st. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Illumina has an average rating of "Hold" and a consensus target price of $123.06.

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.