Comerica Bank Reduces Position in Illumina, Inc. (NASDAQ:ILMN)

Comerica Bank decreased its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,863 shares of the life sciences company's stock after selling 3,980 shares during the period. Comerica Bank's holdings in Illumina were worth $7,331,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ILMN. Bank of Stockton lifted its stake in Illumina by 3.8% during the 4th quarter. Bank of Stockton now owns 2,162 shares of the life sciences company's stock valued at $289,000 after acquiring an additional 80 shares during the period. Stephens Inc. AR lifted its position in Illumina by 1.4% during the fourth quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company's stock valued at $885,000 after purchasing an additional 90 shares during the period. Spire Wealth Management boosted its holdings in Illumina by 26.0% in the fourth quarter. Spire Wealth Management now owns 470 shares of the life sciences company's stock worth $63,000 after purchasing an additional 97 shares during the last quarter. IFP Advisors Inc grew its position in Illumina by 19.1% in the 4th 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 period. Finally, Freedom Investment Management Inc. lifted its holdings in shares of Illumina by 3.7% during the 4th quarter. Freedom Investment Management Inc. now owns 2,856 shares of the life sciences company's stock valued at $382,000 after buying an additional 101 shares during the period. Hedge funds and other institutional investors own 89.42% of the company's stock.

Analysts Set New Price Targets

ILMN has been the subject of several research analyst reports. Barclays reduced their price objective on Illumina from $100.00 to $77.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. Guggenheim cut their target price on shares of Illumina from $170.00 to $150.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Hsbc Global Res downgraded shares of Illumina from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th. Citigroup lowered their target price on Illumina from $90.00 to $85.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, Piper Sandler raised their price objective on Illumina from $185.00 to $190.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Illumina has an average rating of "Moderate Buy" and a consensus price target of $137.55.

Illumina Price Performance

Shares of ILMN traded up $1.82 during mid-day trading on Wednesday, hitting $76.35. 2,467,306 shares of the stock were exchanged, compared to its average volume of 2,276,709. The firm has a 50-day moving average of $79.46 and a two-hundred day moving average of $114.71. Illumina, Inc. has a 52-week low of $68.70 and a 52-week high of $156.66. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. The company has a market cap of $12.08 billion, a PE ratio of -9.94, a price-to-earnings-growth ratio of 1.60 and a beta of 1.35.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. On average, equities analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current year.

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.