Ashton Thomas Private Wealth LLC Acquires Shares of 1,042 Illumina, Inc. (NASDAQ:ILMN)

Ashton Thomas Private Wealth LLC acquired a new stake in shares of Illumina, Inc. (NASDAQ:ILMN) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,042 shares of the life sciences company’s stock, valued at approximately $109,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Trivant Custom Portfolio Group LLC lifted its holdings in shares of Illumina by 166.7% during the first quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock valued at $27,000 after acquiring an additional 125 shares during the period. Versant Capital Management Inc increased its stake in shares of Illumina by 292.9% in the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after buying an additional 246 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Illumina in the second quarter valued at $34,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Illumina by 86.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock valued at $39,000 after buying an additional 132 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Illumina in the fourth quarter valued at $51,000. 89.42% of the stock is owned by institutional investors.

Illumina Price Performance

Illumina stock opened at $129.18 on Friday. The firm has a market capitalization of $20.58 billion, a P/E ratio of -15.85 and a beta of 1.15. Illumina, Inc. has a 1 year low of $89.00 and a 1 year high of $152.87. The business has a 50-day moving average of $123.36 and a 200-day moving average of $120.96. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.24. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business posted $0.32 EPS. Illumina’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, equities analysts anticipate that Illumina, Inc. will post 3.62 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. TD Cowen upgraded Illumina from a “hold” rating to a “buy” rating and raised their target price for the company from $126.00 to $144.00 in a research note on Wednesday, August 14th. Royal Bank of Canada restated an “outperform” rating and issued a $242.00 target price on shares of Illumina in a research note on Wednesday, August 14th. Scotiabank lowered their target price on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 15th. Citigroup raised their target price on Illumina from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lowered their price objective on Illumina from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Illumina presently has an average rating of “Moderate Buy” and an average target price of $151.05.

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.