Korea Investment CORP increased its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 81.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 68,415 shares of the life sciences company’s stock after acquiring an additional 30,800 shares during the period. Korea Investment CORP’s holdings in Illumina were worth $19,108,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its holdings in shares of Illumina by 10.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 23,555 shares of the life sciences company’s stock valued at $6,579,000 after acquiring an additional 2,141 shares during the last quarter. Eqis Capital Management Inc. increased its holdings in shares of Illumina by 40.7% during the 2nd quarter. Eqis Capital Management Inc. now owns 9,676 shares of the life sciences company’s stock valued at $2,702,000 after acquiring an additional 2,797 shares during the last quarter. Welch & Forbes LLC increased its holdings in shares of Illumina by 60.0% during the 2nd quarter. Welch & Forbes LLC now owns 1,533 shares of the life sciences company’s stock valued at $428,000 after acquiring an additional 575 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Illumina by 2.8% during the 2nd quarter. Sei Investments Co. now owns 175,877 shares of the life sciences company’s stock valued at $49,121,000 after acquiring an additional 4,708 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Illumina during the 2nd quarter valued at about $1,664,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.
ILMN opened at $348.29 on Friday. The company has a market capitalization of $50.91 billion, a price-to-earnings ratio of 87.07, a price-to-earnings-growth ratio of 2.87 and a beta of 0.97. The company has a current ratio of 2.74, a quick ratio of 2.44 and a debt-to-equity ratio of 0.22. Illumina, Inc. has a 12-month low of $196.00 and a 12-month high of $357.93.
Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Monday, July 30th. The life sciences company reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.32. Illumina had a return on equity of 26.64% and a net margin of 20.88%. The company had revenue of $830.00 million during the quarter, compared to the consensus estimate of $786.88 million. During the same quarter last year, the company earned $0.82 EPS. The company’s quarterly revenue was up 25.4% on a year-over-year basis. research analysts expect that Illumina, Inc. will post 5.46 EPS for the current fiscal year.
A number of brokerages have recently commented on ILMN. BidaskClub raised Illumina from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 1st. Cowen reissued a “positive” rating and set a $400.00 price objective (up previously from $315.00) on shares of Illumina in a report on Thursday. Argus set a $372.00 price objective on Illumina and gave the company a “buy” rating in a report on Friday, August 10th. Morgan Stanley raised Illumina from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $210.00 to $320.00 in a report on Tuesday, August 7th. Finally, ValuEngine raised Illumina from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 31st. Five research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. Illumina currently has an average rating of “Buy” and an average target price of $308.25.
In related news, SVP Mostafa Ronaghi sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $284.83, for a total transaction of $2,990,715.00. Following the completion of the transaction, the senior vice president now owns 81,496 shares in the company, valued at approximately $23,212,505.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Oene Mark Van sold 1,091 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $354.18, for a total value of $386,410.38. Following the transaction, the senior vice president now owns 11,126 shares of the company’s stock, valued at approximately $3,940,606.68. The disclosure for this sale can be found here. Insiders have sold a total of 43,137 shares of company stock valued at $13,246,862 in the last 90 days. 0.54% of the stock is owned by corporate insiders.
Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing by synthesis technology that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as allow the detection of known genetic markers on a single array.
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