Maverick Capital Ltd. Lowers Holdings in Illumina, Inc. (NASDAQ:ILMN)

Maverick Capital Ltd. reduced its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,109 shares of the life sciences company’s stock after selling 1,229 shares during the period. Maverick Capital Ltd.’s holdings in Illumina were worth $2,101,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ILMN. Primecap Management Co. CA boosted its holdings in Illumina by 462.5% in the second quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock valued at $253,514,000 after acquiring an additional 1,997,010 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Illumina by 305.0% in the 2nd quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock valued at $155,067,000 after purchasing an additional 1,118,747 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Illumina during the 2nd quarter worth about $77,628,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Illumina by 148.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,056,172 shares of the life sciences company’s stock worth $137,735,000 after purchasing an additional 631,294 shares during the period. Finally, Federated Hermes Inc. increased its position in Illumina by 511.7% during the 2nd quarter. Federated Hermes Inc. now owns 530,439 shares of the life sciences company’s stock worth $55,367,000 after purchasing an additional 443,720 shares in the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.

Illumina Trading Down 0.1 %

Shares of NASDAQ ILMN opened at $144.15 on Friday. The stock’s 50 day moving average price is $141.88 and its two-hundred day moving average price is $125.95. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. Illumina, Inc. has a 52-week low of $99.23 and a 52-week high of $156.66.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the company posted $0.33 EPS. The business’s revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts predict that Illumina, Inc. will post 4.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on ILMN shares. Argus raised shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Wednesday, August 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $156.00 price target on shares of Illumina in a research report on Tuesday, November 12th. StockNews.com assumed coverage on Illumina in a report on Thursday, August 29th. They issued a “buy” rating for the company. Citigroup boosted their price objective on Illumina from $155.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Hsbc Global Res upgraded Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 target price for the company in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $164.00.

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.