Power Wealth Management LLC Purchases Shares of 7,975 Illumina, Inc. (NASDAQ:ILMN)

Power Wealth Management LLC purchased a new position in Illumina, Inc. (NASDAQ:ILMN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 7,975 shares of the life sciences company's stock, valued at approximately $1,110,000. Illumina makes up 0.8% of Power Wealth Management LLC's investment portfolio, making the stock its 29th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Illumina by 43.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 7,398 shares of the life sciences company's stock worth $1,016,000 after purchasing an additional 2,258 shares during the period. Xponance Inc. grew its holdings in shares of Illumina by 4.7% during the 3rd quarter. Xponance Inc. now owns 27,544 shares of the life sciences company's stock valued at $3,781,000 after acquiring an additional 1,235 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Illumina by 13.9% during the 3rd quarter. Raymond James & Associates now owns 381,233 shares of the life sciences company's stock valued at $52,336,000 after acquiring an additional 46,444 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of Illumina by 8.4% in the third quarter. Stratos Wealth Partners LTD. now owns 5,275 shares of the life sciences company's stock worth $724,000 after acquiring an additional 410 shares during the last quarter. Finally, Independent Advisor Alliance raised its holdings in shares of Illumina by 8.6% during the third quarter. Independent Advisor Alliance now owns 1,595 shares of the life sciences company's stock worth $219,000 after acquiring an additional 126 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company's stock.

Illumina Stock Performance

Shares of ILMN traded down $6.06 during mid-day trading on Friday, hitting $117.93. The company's stock had a trading volume of 2,987,105 shares, compared to its average volume of 1,375,095. The stock's 50-day moving average is $130.03 and its two-hundred day moving average is $127.00. The firm has a market capitalization of $18.78 billion, a PE ratio of -14.47 and a beta of 1.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 1.66. Illumina, Inc. has a one year low of $89.00 and a one year high of $213.91.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.05. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.28%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the firm earned $0.08 EPS. The business's revenue was down 1.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Illumina, Inc. will post 0.91 EPS for the current year.

Insider Buying and Selling at Illumina

In other news, CEO Jacob Thaysen acquired 7,330 shares of the stock in a transaction dated Thursday, February 22nd. The shares were acquired at an average cost of $135.29 per share, for a total transaction of $991,675.70. Following the completion of the transaction, the chief executive officer now owns 14,861 shares in the company, valued at approximately $2,010,544.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ILMN. StockNews.com downgraded Illumina from a "buy" rating to a "hold" rating in a research note on Friday. Royal Bank of Canada restated an "outperform" rating and issued a $253.00 price objective on shares of Illumina in a report on Tuesday, April 9th. OTR Global reiterated a "mixed" rating on shares of Illumina in a research note on Wednesday, March 20th. Stephens reissued an "overweight" rating and issued a $170.00 target price on shares of Illumina in a research report on Wednesday, April 10th. Finally, Barclays raised their price target on shares of Illumina from $85.00 to $100.00 and gave the company an "underweight" rating in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $165.10.

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.