Illumina, Inc. (NASDAQ:ILMN) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Illumina, Inc. has received a consensus rating of "Hold" from analysts, with varying targets ranging from $90.00 to $128.00.
• The company reported earnings of $1.19 per share for the last quarter, exceeding expectations, but saw a 4.8% decline in revenue year-over-year.
• Major institutional investors have significantly increased their holdings in Illumina, indicating strong confidence in the company, with hedge funds owning 89.42% of the stock.

Illumina, Inc. (NASDAQ:ILMN - Get Free Report) has received an average recommendation of "Hold" from the twenty analysts that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $127.7368.

A number of research analysts recently commented on ILMN shares. Stephens set a $110.00 price target on Illumina and gave the stock an "overweight" rating in a report on Monday. Barclays upped their target price on shares of Illumina from $85.00 to $90.00 and gave the stock an "underweight" rating in a research report on Friday, August 1st. Morgan Stanley increased their price objective on shares of Illumina from $100.00 to $105.00 and gave the company an "equal weight" rating in a report on Monday. Evercore ISI lifted their target price on Illumina from $116.00 to $128.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Finally, Canaccord Genuity Group boosted their target price on Illumina from $99.00 to $105.00 and gave the stock a "hold" rating in a research report on Friday, August 1st.

Illumina Stock Performance

Shares of NASDAQ ILMN opened at $95.50 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66. Illumina has a 12-month low of $68.70 and a 12-month high of $156.66. The firm has a market capitalization of $14.68 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 2.12 and a beta of 1.37. The firm has a 50 day moving average of $94.89 and a 200 day moving average of $91.78.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The life sciences company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.17. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.12 billion. Illumina had a return on equity of 28.93% and a net margin of 29.36%. The business's quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 EPS. On average, research analysts anticipate that Illumina will post 4.51 earnings per share for the current year.

Insiders Place Their Bets

In other Illumina news, CFO Ankur Dhingra bought 6,100 shares of the company's stock in a transaction on Monday, May 12th. The stock was acquired at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the transaction, the chief financial officer directly owned 24,906 shares of the company's stock, valued at approximately $2,022,616.26. This represents a 32.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Illumina

A number of large investors have recently bought and sold shares of ILMN. Capital World Investors raised its position in Illumina by 408.6% during the 4th quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company's stock valued at $2,408,721,000 after purchasing an additional 14,481,232 shares in the last quarter. Corvex Management LP increased its stake in shares of Illumina by 125.2% during the first quarter. Corvex Management LP now owns 3,829,608 shares of the life sciences company's stock valued at $303,841,000 after buying an additional 2,129,449 shares during the period. Brown Advisory Inc. raised its holdings in shares of Illumina by 54,220.9% in the fourth quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company's stock valued at $255,586,000 after acquiring an additional 1,909,118 shares in the last quarter. AQR Capital Management LLC lifted its stake in Illumina by 361.7% in the first quarter. AQR Capital Management LLC now owns 2,121,585 shares of the life sciences company's stock worth $165,484,000 after acquiring an additional 1,662,093 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Illumina by 11,714.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,161,882 shares of the life sciences company's stock worth $92,184,000 after acquiring an additional 1,152,048 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company's stock.

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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