Illumina, Inc. (NASDAQ:ILMN) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank has increased its stake in Illumina, Inc. by 4.9%, owning approximately $15.80 million in shares as of its latest SEC filing.
• Analysts have varying opinions on Illumina's stock, with a consensus rating of "Hold" and an average target price of $125.89.
• Illumina reported earnings of $0.97 per share, surpassing expectations, but experienced a 1.4% decline in quarterly revenue compared to the previous year.

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 4.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 199,176 shares of the life sciences company's stock after purchasing an additional 9,252 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.13% of Illumina worth $15,803,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ILMN. LPL Financial LLC increased its position in shares of Illumina by 24.6% during the 4th quarter. LPL Financial LLC now owns 82,867 shares of the life sciences company's stock worth $11,073,000 after purchasing an additional 16,339 shares during the last quarter. Korea Investment CORP boosted its holdings in Illumina by 92.9% during the 4th quarter. Korea Investment CORP now owns 70,588 shares of the life sciences company's stock valued at $9,433,000 after acquiring an additional 34,000 shares during the period. Allstate Corp purchased a new position in Illumina during the 4th quarter valued at about $631,000. Arrowstreet Capital Limited Partnership purchased a new position in Illumina during the 4th quarter valued at about $9,023,000. Finally, Schroder Investment Management Group boosted its holdings in Illumina by 32.5% during the 4th quarter. Schroder Investment Management Group now owns 196,860 shares of the life sciences company's stock valued at $26,295,000 after acquiring an additional 48,263 shares during the period. 89.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ILMN has been the subject of several recent research reports. Guggenheim decreased their price objective on Illumina from $122.00 to $114.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Piper Sandler decreased 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. Robert W. Baird lifted their price objective on Illumina from $84.00 to $105.00 and gave the company a "neutral" rating in a research note on Monday. Evercore ISI lifted their price objective on Illumina from $116.00 to $128.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada lifted their price objective on Illumina from $118.00 to $126.00 and gave the company an "outperform" rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $127.21.

Illumina Stock Performance

ILMN traded down $8.05 during trading on Friday, hitting $94.66. 4,769,729 shares of the stock were exchanged, compared to its average volume of 2,180,101. The firm has a market capitalization of $14.98 billion, a P/E ratio of 11.98, a PEG ratio of 2.01 and a beta of 1.37. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $156.66. The stock has a fifty day moving average price of $93.52 and a two-hundred day moving average price of $93.18. 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 quarterly earnings results on Thursday, July 31st. The life sciences company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.02 by $0.17. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.12 billion. Illumina had a return on equity of 28.84% and a net margin of 29.36%. The firm's revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. As a group, sell-side analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Ankur Dhingra bought 6,100 shares of the company's stock in a transaction dated Monday, May 12th. The shares were acquired at an average price of $81.21 per share, with a total value of $495,381.00. Following the completion of the acquisition, the chief financial officer 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by company insiders.

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.