Sumitomo Mitsui Trust Group Inc. Has $83.32 Million Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 21.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,050,203 shares of the life sciences company's stock after buying an additional 184,657 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.66% of Illumina worth $83,323,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Capital World Investors boosted its stake in Illumina by 408.6% in the fourth quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company's stock valued at $2,408,721,000 after acquiring an additional 14,481,232 shares during the last quarter. Brown Advisory Inc. boosted its position in shares of Illumina by 54,220.9% in the 4th quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company's stock worth $255,586,000 after purchasing an additional 1,909,118 shares during the last quarter. Norges Bank bought a new position in shares of Illumina in the 4th quarter worth $228,714,000. Northern Trust Corp grew its stake in shares of Illumina by 26.9% during the fourth quarter. Northern Trust Corp now owns 1,652,935 shares of the life sciences company's stock worth $220,882,000 after purchasing an additional 349,878 shares during the period. Finally, Bessemer Group Inc. increased its holdings in Illumina by 32,837.5% in the fourth quarter. Bessemer Group Inc. now owns 1,348,131 shares of the life sciences company's stock valued at $180,152,000 after purchasing an additional 1,344,038 shares during the last quarter. 89.42% of the stock is owned by institutional investors.

Illumina Stock Up 0.1%

Shares of NASDAQ ILMN traded up $0.10 during midday trading on Thursday, reaching $100.44. The company's stock had a trading volume of 1,422,960 shares, compared to its average volume of 2,139,496. The stock has a 50 day simple moving average of $84.12 and a 200-day simple moving average of $98.32. The company has a current ratio of 1.86, a quick ratio of 1.48 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $15.90 billion, a price-to-earnings ratio of -16.55, a PEG ratio of 1.93 and a beta of 1.36. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.01. Illumina had a negative net margin of 22.25% and a positive return on equity of 25.54%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business earned $0.98 EPS. The company's revenue was down 1.4% compared to the same quarter last year. Equities research analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current year.

Insiders Place Their Bets

In related 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 purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ILMN has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on shares of Illumina from $190.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. JPMorgan Chase & Co. decreased their price target on shares of Illumina from $120.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Canaccord Genuity Group upped their price objective on shares of Illumina from $87.00 to $99.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Morgan Stanley reduced their target price on Illumina from $136.00 to $100.00 and set an "equal weight" rating on the stock in a report on Monday, May 12th. Finally, Robert W. Baird decreased their target price on Illumina from $127.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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.