Illumina (NASDAQ:ILMN) Reaches New 1-Year Low – What’s Next?

Shares of Illumina, Inc. (NASDAQ:ILMN) hit a new 52-week low on Monday . The stock traded as low as $92.26 and last traded at $92.87, with a volume of 574615 shares. The stock had previously closed at $94.20.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ILMN shares. Canaccord Genuity Group reduced their target price on shares of Illumina from $145.00 to $135.00 and set a “hold” rating on the stock in a research report on Friday, February 7th. JPMorgan Chase & Co. lifted their target price on shares of Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Royal Bank of Canada cut their price target on shares of Illumina from $250.00 to $247.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Piper Sandler boosted their price objective on shares of Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, UBS Group increased their target price on Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $159.45.

Illumina Trading Down 0.0 %

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. The firm has a market capitalization of $14.92 billion, a P/E ratio of -12.28, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10. The stock’s 50-day simple moving average is $127.98 and its two-hundred day simple moving average is $134.22.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. Equities research analysts expect that Illumina, Inc. will post 4.51 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ILMN. Creative Planning grew its holdings in Illumina by 3.3% in the third quarter. Creative Planning now owns 16,679 shares of the life sciences company’s stock worth $2,175,000 after purchasing an additional 535 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Illumina by 6.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,944 shares of the life sciences company’s stock valued at $645,000 after buying an additional 307 shares in the last quarter. International Assets Investment Management LLC increased its position in Illumina by 196.6% during the 3rd quarter. International Assets Investment Management LLC now owns 45,383 shares of the life sciences company’s stock valued at $59,180,000 after buying an additional 30,080 shares in the last quarter. IFM Investors Pty Ltd raised its stake in Illumina by 1.2% in the third quarter. IFM Investors Pty Ltd now owns 32,372 shares of the life sciences company’s stock valued at $4,222,000 after buying an additional 385 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Illumina by 1,169.2% in the third quarter. Assenagon Asset Management S.A. now owns 40,410 shares of the life sciences company’s stock worth $5,270,000 after acquiring an additional 37,226 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

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.