Illumina, Inc. (NASDAQ:ILMN) Shares Sold by SouthState Corp

SouthState Corp trimmed its position in Illumina, Inc. (NASDAQ:ILMN) by 13.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,157 shares of the life sciences company’s stock after selling 178 shares during the quarter. SouthState Corp’s holdings in Illumina were worth $161,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ILMN. abrdn plc boosted its holdings in shares of Illumina by 764.9% in the 4th quarter. abrdn plc now owns 339,023 shares of the life sciences company’s stock valued at $47,206,000 after buying an additional 299,827 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in Illumina in the third quarter valued at $29,558,000. International Assets Investment Management LLC grew its holdings in shares of Illumina by 210.5% during the fourth quarter. International Assets Investment Management LLC now owns 48,194 shares of the life sciences company’s stock worth $6,711,000 after purchasing an additional 32,672 shares during the last quarter. Aquila Investment Management LLC increased its position in shares of Illumina by 150.0% during the fourth quarter. Aquila Investment Management LLC now owns 25,000 shares of the life sciences company’s stock worth $3,481,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Weil Company Inc. lifted its holdings in shares of Illumina by 59.2% in the 3rd quarter. Weil Company Inc. now owns 22,963 shares of the life sciences company’s stock valued at $3,152,000 after purchasing an additional 8,539 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Insider Buying and Selling at Illumina

In other Illumina news, CEO Jacob Thaysen acquired 7,330 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were acquired at an average price of $135.29 per share, for a total transaction of $991,675.70. Following the completion of the acquisition, the chief executive officer now directly owns 14,861 shares of the company’s stock, valued at $2,010,544.69. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ILMN shares. HSBC downgraded Illumina from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. OTR Global reaffirmed a “mixed” rating on shares of Illumina in a report on Wednesday, March 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $253.00 price target on shares of Illumina in a research note on Tuesday, April 9th. Robert W. Baird raised their price objective on shares of Illumina from $125.00 to $128.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Stephens reiterated an “overweight” rating and set a $170.00 target price on shares of Illumina in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $165.10.

Illumina Stock Down 4.9 %

Illumina stock traded down $6.06 during midday trading on Friday, reaching $117.93. 2,987,105 shares of the company were exchanged, compared to its average volume of 1,375,095. The firm’s 50-day simple moving average is $130.33 and its 200-day simple moving average is $127.11. Illumina, Inc. has a 1 year low of $89.00 and a 1 year high of $213.91. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, May 2nd. The life sciences company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.28%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 earnings per share. On average, research analysts forecast that Illumina, Inc. will post 0.91 EPS for the current 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.