Platform Technology Partners Acquires 141 Shares of Illumina, Inc. (NASDAQ:ILMN)

Platform Technology Partners boosted its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 4.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,512 shares of the life sciences company’s stock after buying an additional 141 shares during the quarter. Platform Technology Partners’ holdings in Illumina were worth $458,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ILMN. Vanguard Group Inc. increased its position in shares of Illumina by 0.4% during the first quarter. Vanguard Group Inc. now owns 18,245,041 shares of the life sciences company’s stock worth $2,505,409,000 after buying an additional 66,528 shares during the period. Bank of New York Mellon Corp raised its position in shares of Illumina by 7.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,039,538 shares of the life sciences company’s stock worth $317,267,000 after acquiring an additional 204,043 shares in the last quarter. Capital World Investors lifted its stake in shares of Illumina by 41.1% in the 1st quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock valued at $378,111,000 after purchasing an additional 801,814 shares during the period. Primecap Management Co. CA boosted its position in shares of Illumina by 462.5% during the 2nd quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock valued at $253,514,000 after purchasing an additional 1,997,010 shares in the last quarter. Finally, GUARDCAP ASSET MANAGEMENT Ltd boosted its position in shares of Illumina by 1.1% during the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 2,068,869 shares of the life sciences company’s stock valued at $284,097,000 after purchasing an additional 22,067 shares in the last quarter. Institutional investors own 89.42% of the company’s stock.

Wall Street Analyst Weigh In

ILMN has been the subject of a number of research analyst reports. Scotiabank lowered 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. UBS Group boosted their target price on shares of Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Daiwa America raised shares of Illumina to a “strong-buy” rating in a research note on Friday, August 16th. HSBC raised shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Thursday, October 17th. Finally, Piper Sandler cut their price objective on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $164.00.

Illumina Price Performance

ILMN opened at $151.50 on Tuesday. Illumina, Inc. has a fifty-two week low of $92.26 and a fifty-two week high of $156.66. The firm has a 50-day moving average of $138.50 and a 200 day moving average of $123.77. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.86 and a current ratio of 2.43. The firm has a market cap of $24.03 billion, a P/E ratio of -15.21 and a beta of 1.13.

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

Illumina Company 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.