Private Advisor Group LLC Grows Position in Illumina, Inc. (NASDAQ:ILMN)

Private Advisor Group LLC raised its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 122.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,025 shares of the life sciences company’s stock after buying an additional 6,070 shares during the quarter. Private Advisor Group LLC’s holdings in Illumina were worth $1,152,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in Illumina by 5.9% during the 2nd quarter. Victory Capital Management Inc. now owns 134,094 shares of the life sciences company’s stock valued at $13,997,000 after buying an additional 7,527 shares in the last quarter. SouthState Corp boosted its holdings in shares of Illumina by 37.1% in the 2nd quarter. SouthState Corp now owns 1,017 shares of the life sciences company’s stock worth $106,000 after purchasing an additional 275 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of Illumina by 143.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 33,100 shares of the life sciences company’s stock worth $3,455,000 after purchasing an additional 19,516 shares during the period. Rhumbline Advisers boosted its holdings in shares of Illumina by 63.8% in the 2nd quarter. Rhumbline Advisers now owns 462,616 shares of the life sciences company’s stock worth $48,288,000 after purchasing an additional 180,196 shares during the period. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of Illumina in the 2nd quarter worth approximately $63,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ILMN. Stephens reiterated an “overweight” rating and issued a $170.00 target price on shares of Illumina in a report on Wednesday, July 10th. Scotiabank dropped their target price on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $242.00 target price on shares of Illumina in a report on Wednesday, August 14th. Piper Sandler dropped their target price on Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Finally, Daiwa America upgraded Illumina to a “strong-buy” rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Illumina presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.05.

Illumina Trading Up 2.3 %

ILMN opened at $129.18 on Monday. The firm has a market cap of $20.58 billion, a price-to-earnings ratio of -15.85 and a beta of 1.15. 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, Inc. has a 12 month low of $89.00 and a 12 month high of $152.87. The stock has a fifty day moving average price of $123.36 and a 200-day moving average price of $120.69.

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

About Illumina

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.