Soma Equity Partners LP Decreases Position in Illumina, Inc. (NASDAQ:ILMN)

Soma Equity Partners LP decreased its holdings in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 10.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 738,393 shares of the life sciences company's stock after selling 83,363 shares during the quarter. Illumina makes up about 5.5% of Soma Equity Partners LP's investment portfolio, making the stock its 12th biggest holding. Soma Equity Partners LP owned 0.47% of Illumina worth $98,671,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ILMN. Golden State Wealth Management LLC bought a new position in Illumina during the 4th quarter worth $32,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Illumina in the 4th quarter worth about $45,000. Assetmark Inc. boosted its holdings in Illumina by 954.8% in the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company's stock valued at $44,000 after purchasing an additional 296 shares during the period. Lee Danner & Bass Inc. acquired a new stake in shares of Illumina in the fourth quarter valued at approximately $48,000. Finally, V Square Quantitative Management LLC boosted its stake in shares of Illumina by 50.6% in 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 during the period. Institutional investors own 89.42% of the company's stock.

Insiders Place Their Bets

In other Illumina news, CFO Ankur Dhingra bought 6,100 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the acquisition, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company's stock.

Illumina Stock Down 0.8%

NASDAQ ILMN traded down $0.67 on Monday, hitting $82.95. 2,383,529 shares of the company were exchanged, compared to its average volume of 2,317,032. Illumina, Inc. has a 12 month low of $68.70 and a 12 month high of $156.66. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The company has a market cap of $13.13 billion, a PE ratio of -10.80, a PEG ratio of 1.60 and a beta of 1.35. The stock has a fifty day moving average of $78.48 and a 200-day moving average of $110.89.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its earnings results on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The company 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 for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the business posted $0.98 EPS. As a group, analysts forecast that Illumina, Inc. will post 4.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ILMN. Royal Bank of Canada dropped their price objective on Illumina from $128.00 to $112.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Barclays reduced their price objective on shares of Illumina from $100.00 to $77.00 and set an "underweight" rating on the stock in a research note on Thursday, April 10th. Stephens reiterated an "overweight" rating and set a $156.00 price target on shares of Illumina in a research report on Tuesday, March 11th. Piper Sandler lowered their price objective on shares of Illumina from $190.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, Canaccord Genuity Group reduced their target price on Illumina from $92.00 to $87.00 and set a "hold" rating on the stock in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $130.70.

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.