Nuveen Asset Management LLC Has $131.51 Million Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

Nuveen Asset Management LLC decreased its holdings in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 52.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 984,133 shares of the life sciences company's stock after selling 1,093,191 shares during the period. Nuveen Asset Management LLC owned approximately 0.62% of Illumina worth $131,510,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ILMN. Bleakley Financial Group LLC acquired a new position in Illumina in the 4th quarter valued at $751,000. Van ECK Associates Corp lifted its position in Illumina by 17.5% in the fourth quarter. Van ECK Associates Corp now owns 152,265 shares of the life sciences company's stock valued at $20,347,000 after purchasing an additional 22,718 shares during the period. Strategic Financial Concepts LLC purchased a new stake in Illumina in the 4th quarter valued at approximately $1,464,000. Allworth Financial LP increased its position in Illumina by 720.7% during the 4th quarter. Allworth Financial LP now owns 7,132 shares of the life sciences company's stock worth $1,001,000 after purchasing an additional 6,263 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Illumina during the 4th quarter worth approximately $448,000. Institutional investors and hedge funds own 89.42% of the company's stock.

Insider Activity at Illumina

In related news, CFO Ankur Dhingra purchased 6,100 shares of the stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the transaction, the chief financial officer now directly owns 24,906 shares of the company's stock, valued at approximately $2,022,616.26. The trade was a 32.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Stephens reiterated an "overweight" rating and set a $105.00 target price on shares of Illumina in a research report on Tuesday. Barclays reduced their price target on shares of Illumina from $100.00 to $77.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. Piper Sandler dropped their price objective on shares of Illumina from $190.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. Hsbc Global Res cut shares of Illumina from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Royal Bank of Canada lowered their target price on shares of Illumina from $128.00 to $112.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $128.15.

Illumina Price Performance

Shares of NASDAQ:ILMN traded up $1.26 during trading on Tuesday, reaching $84.21. The company had a trading volume of 1,984,525 shares, compared to its average volume of 2,315,724. The firm's fifty day moving average is $78.46 and its 200 day moving average is $110.42. The firm has a market capitalization of $13.33 billion, a PE ratio of -10.96, a price-to-earnings-growth ratio of 1.60 and a beta of 1.35. Illumina, Inc. has a twelve month low of $68.70 and a twelve month 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.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The firm's revenue was down 1.4% compared to the same quarter last year. On average, equities analysts forecast that Illumina, Inc. will post 4.51 EPS for the current year.

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.