Pallas Capital Advisors LLC Raises Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Pallas Capital Advisors LLC raised its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 73.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,434 shares of the life sciences company's stock after buying an additional 4,405 shares during the quarter. Pallas Capital Advisors LLC's holdings in Illumina were worth $828,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Bank of Stockton grew its stake in Illumina by 3.8% during the fourth quarter. Bank of Stockton now owns 2,162 shares of the life sciences company's stock worth $289,000 after buying an additional 80 shares during the period. Stephens Inc. AR lifted its holdings in Illumina by 1.4% during the 4th quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company's stock worth $885,000 after buying an additional 90 shares during the last quarter. IFP Advisors Inc boosted its holdings 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 buying an additional 99 shares during the period. Freedom Investment Management Inc. grew its stake in Illumina by 3.7% during the 4th quarter. Freedom Investment Management Inc. now owns 2,856 shares of the life sciences company's stock worth $382,000 after buying an additional 101 shares during the last quarter. Finally, Concurrent Investment Advisors LLC boosted its stake in Illumina by 8.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 1,731 shares of the life sciences company's stock valued at $231,000 after purchasing an additional 131 shares during the period. 89.42% of the stock is owned by institutional investors and hedge funds.

Illumina Stock Up 0.3%

Illumina stock traded up $0.27 during trading on Thursday, hitting $87.81. 580,280 shares of the company were exchanged, compared to its average volume of 2,276,070. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $13.90 billion, a P/E ratio of -11.43, a PEG ratio of 1.60 and a beta of 1.32. The business's 50 day moving average is $78.46 and its 200 day moving average is $103.69. Illumina, Inc. has a 52 week low of $68.70 and a 52 week high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. Illumina's quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $0.98 earnings per share. Analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current year.

Insider Buying and Selling at Illumina

In other news, CFO Ankur Dhingra acquired 6,100 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 24,906 shares of the company's stock, 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 SEC, which can be accessed through this link. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on ILMN. Hsbc Global Res cut shares of Illumina from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. HSBC downgraded shares of Illumina from a "buy" rating to a "hold" rating and set a $100.00 target price on the stock. in a research note on Friday, February 28th. Barclays lowered their target price on Illumina from $100.00 to $77.00 and set an "underweight" rating on the stock in a research note on Thursday, April 10th. Piper Sandler reduced their target price on Illumina from $190.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Finally, Robert W. Baird reduced their target price on shares of Illumina from $127.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $126.94.

Illumina Company 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.