Topline Capital Management LLC Purchases New Position in Illumina, Inc. $ILMN

Key Points

• Topline Capital Management LLC purchased a new stake in Illumina, acquiring 27,200 shares valued at approximately $2,158,000, which represents 0.5% of its investment portfolio.
• Illumina reported a Q2 EPS of $1.19, beating analysts’ estimates of $1.02, despite a revenue decline of 4.8% compared to the previous year.
• Institutional investors own 89.42% of Illumina's stock, with notable increases in stakes from firms like Vanguard and Brown Advisory during the last quarter.

Topline Capital Management LLC purchased a new stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 27,200 shares of the life sciences company's stock, valued at approximately $2,158,000. Illumina comprises approximately 0.5% of Topline Capital Management LLC's portfolio, making the stock its 29th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of ILMN. Vanguard Group Inc. raised its holdings in Illumina by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 16,371,662 shares of the life sciences company's stock valued at $1,298,928,000 after buying an additional 558,243 shares during the period. WCM Investment Management LLC raised its holdings in Illumina by 1.2% in the 1st quarter. WCM Investment Management LLC now owns 4,179,011 shares of the life sciences company's stock valued at $334,321,000 after buying an additional 49,156 shares during the period. Brown Advisory Inc. raised its holdings in Illumina by 52.1% in the 1st quarter. Brown Advisory Inc. now owns 2,909,228 shares of the life sciences company's stock valued at $230,818,000 after buying an additional 996,589 shares during the period. Northern Trust Corp raised its holdings in Illumina by 26.9% in the 4th quarter. Northern Trust Corp now owns 1,652,935 shares of the life sciences company's stock valued at $220,882,000 after buying an additional 349,878 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Illumina by 2.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,292,407 shares of the life sciences company's stock worth $172,704,000 after purchasing an additional 32,270 shares during the period. Institutional investors and hedge funds own 89.42% of the company's stock.

Illumina Stock Down 3.7%

Shares of ILMN stock traded down $3.73 during trading hours on Tuesday, reaching $96.23. 457,258 shares of the stock were exchanged, compared to its average volume of 2,296,664. The business's fifty day moving average is $99.29 and its two-hundred day moving average is $88.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.81 and a quick ratio of 1.41. Illumina, Inc. has a 12-month low of $68.70 and a 12-month high of $156.66. The firm has a market capitalization of $14.79 billion, a P/E ratio of 12.18, a P/E/G ratio of 2.25 and a beta of 1.43.

Illumina (NASDAQ:ILMN - Get Free Report) last released its earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.17. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.12 billion. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The business's quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. As a group, research analysts expect that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ILMN. Stephens set a $110.00 price target on shares of Illumina and gave the stock an "overweight" rating in a research note on Monday, August 4th. Morgan Stanley boosted their price target on shares of Illumina from $100.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Scotiabank lowered shares of Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 price target on the stock. in a research note on Friday, July 11th. Guggenheim cut their price target on shares of Illumina from $122.00 to $114.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, Evercore ISI boosted their price target on shares of Illumina from $116.00 to $128.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Six research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $123.17.

Illumina 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.