Jacobs Levy Equity Management Inc. Purchases New Shares in Illumina, Inc. (NASDAQ:ILMN)

Jacobs Levy Equity Management Inc. acquired a new position in Illumina, Inc. (NASDAQ:ILMN - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 9,834 shares of the life sciences company's stock, valued at approximately $1,314,000.

Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in Illumina during the fourth quarter worth approximately $32,000. Assetmark Inc. grew its holdings in shares of Illumina by 954.8% during the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company's stock worth $44,000 after purchasing an additional 296 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Illumina during the 4th quarter worth approximately $45,000. Lee Danner & Bass Inc. acquired a new position in Illumina during the fourth quarter valued at approximately $48,000. Finally, V Square Quantitative Management LLC lifted its position in Illumina by 50.6% during the fourth quarter. V Square Quantitative Management LLC now owns 393 shares of the life sciences company's stock valued at $52,000 after buying an additional 132 shares in the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley cut their price objective on Illumina from $136.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Guggenheim decreased their price target on Illumina from $122.00 to $114.00 and set a "buy" rating for the company in a report on Friday, May 9th. Canaccord Genuity Group dropped their price objective on shares of Illumina from $92.00 to $87.00 and set a "hold" rating on the stock in a research note on Monday, May 12th. Stephens restated an "overweight" rating and issued a $105.00 target price on shares of Illumina in a research note on Tuesday. Finally, Hsbc Global Res downgraded shares of Illumina from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $128.15.

Illumina Stock Performance

ILMN stock traded up $1.26 during midday trading on Tuesday, reaching $84.21. The company had a trading volume of 1,984,525 shares, compared to its average volume of 2,315,721. The firm has a market capitalization of $13.33 billion, a PE ratio of -10.96, a P/E/G ratio of 1.60 and a beta of 1.35. The stock has a 50 day moving average price of $78.46 and a 200 day moving average price of $110.42. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. The firm's revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 EPS. Analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current year.

Insider Transactions at Illumina

In other news, CFO Ankur Dhingra bought 6,100 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were purchased 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 now directly owns 24,906 shares in the company, valued at approximately $2,022,616.26. This trade represents a 32.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.60% 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.