QRG Capital Management Inc. Decreases Position in Illumina, Inc. (NASDAQ:ILMN)

QRG Capital Management Inc. lessened its position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 63.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,193 shares of the life sciences company's stock after selling 7,172 shares during the period. QRG Capital Management Inc.'s holdings in Illumina were worth $333,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. IFP Advisors Inc lifted its stake in Illumina by 19.1% during the fourth quarter. IFP Advisors Inc now owns 617 shares of the life sciences company's stock worth $82,000 after purchasing an additional 99 shares during the last quarter. Freedom Investment Management Inc. raised its holdings in Illumina by 3.7% during the fourth quarter. Freedom Investment Management Inc. now owns 2,856 shares of the life sciences company's stock worth $382,000 after purchasing an additional 101 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Illumina by 8.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 1,731 shares of the life sciences company's stock worth $231,000 after buying an additional 131 shares during the last quarter. Personal CFO Solutions LLC boosted its holdings in shares of Illumina by 9.2% in the 4th quarter. Personal CFO Solutions LLC now owns 1,789 shares of the life sciences company's stock valued at $239,000 after buying an additional 150 shares in the last quarter. Finally, GC Wealth Management RIA LLC grew its position in shares of Illumina by 9.5% in the 4th quarter. GC Wealth Management RIA LLC now owns 1,783 shares of the life sciences company's stock valued at $238,000 after buying an additional 154 shares during the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Illumina

In other news, CFO Ankur Dhingra acquired 6,100 shares of the company's stock in a transaction dated Monday, May 12th. The shares were bought at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the purchase, the chief financial officer now directly owns 24,906 shares of the company's stock, valued at approximately $2,022,616.26. This trade represents a 32.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on ILMN shares. Stephens reissued an "overweight" rating and issued a $105.00 target price on shares of Illumina in a research report on Tuesday, May 20th. Piper Sandler reduced their price objective on Illumina from $190.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. Morgan Stanley decreased their price objective on Illumina from $136.00 to $100.00 and set an "equal weight" rating for the company in a report on Monday, May 12th. Royal Bank Of Canada cut their target price on shares of Illumina from $128.00 to $112.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Illumina from $120.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $126.94.

Illumina Trading Up 0.1%

Shares of Illumina stock opened at $90.61 on Tuesday. The firm has a market cap of $14.34 billion, a price-to-earnings ratio of -14.93, a price-to-earnings-growth ratio of 1.78 and a beta of 1.33. Illumina, Inc. has a 52-week low of $68.70 and a 52-week high of $156.66. The company's 50-day simple moving average is $81.03 and its 200-day simple moving average is $100.16. The company has a quick ratio of 1.48, a current ratio of 1.86 and a debt-to-equity ratio of 0.63.

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

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.

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