Smith Group Asset Management LLC Has $780,000 Holdings in Illumina, Inc. (NASDAQ:ILMN)

Smith Group Asset Management LLC lessened its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 60.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,830 shares of the life sciences company's stock after selling 15,170 shares during the period. Smith Group Asset Management LLC's holdings in Illumina were worth $780,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Illumina in the 4th quarter worth about $40,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Illumina in the 4th quarter worth about $45,000. Assetmark Inc. raised its holdings in shares of Illumina by 954.8% in the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company's stock worth $44,000 after acquiring an additional 296 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Illumina in the 4th quarter worth about $48,000. Finally, Rakuten Securities Inc. increased its stake in Illumina by 290.3% in the 1st quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company's stock valued at $29,000 after buying an additional 270 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company's stock.

Illumina Stock Up 0.7%

ILMN opened at $95.41 on Tuesday. The company has a 50 day moving average of $83.16 and a 200 day moving average of $98.31. The company has a market cap of $15.10 billion, a PE ratio of -15.72, a price-to-earnings-growth ratio of 1.86 and a beta of 1.33. Illumina, Inc. has a 12 month low of $68.70 and a 12 month high of $156.66. The company has a current ratio of 1.86, a quick ratio of 1.48 and a debt-to-equity ratio of 0.63.

Illumina (NASDAQ:ILMN - Get Free Report) last released 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 company 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%. Illumina's revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the firm earned $0.98 EPS. On average, sell-side analysts expect that Illumina, Inc. will post 4.51 EPS for the current year.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

ILMN has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Illumina from $120.00 to $85.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Barclays reiterated an "underweight" rating and issued a $85.00 price objective (up previously from $77.00) on shares of Illumina in a research note on Tuesday, June 24th. Robert W. Baird decreased their price objective 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. Stephens reiterated an "overweight" rating and issued a $105.00 price objective on shares of Illumina in a research note on Tuesday, May 20th. Finally, Citigroup decreased their price objective on shares of Illumina from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $127.39.

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.

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