Primecap Management Co. CA Lowers Position in Illumina, Inc. (NASDAQ:ILMN)

Primecap Management Co. CA cut its stake in Illumina, Inc. (NASDAQ:ILMN) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 407,325 shares of the life sciences company’s stock after selling 9,740 shares during the quarter. Primecap Management Co. CA owned 0.26% of Illumina worth $56,716,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. raised its stake in shares of Illumina by 0.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 53,859 shares of the life sciences company’s stock worth $7,499,000 after purchasing an additional 187 shares during the last quarter. Team Hewins LLC purchased a new stake in shares of Illumina during the fourth quarter valued at approximately $698,000. Commerce Bank increased its position in shares of Illumina by 14.7% during the fourth quarter. Commerce Bank now owns 10,454 shares of the life sciences company’s stock valued at $1,456,000 after acquiring an additional 1,339 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Illumina by 134.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,316 shares of the life sciences company’s stock valued at $2,411,000 after acquiring an additional 9,918 shares during the last quarter. Finally, BlackDiamond Wealth Management LLC purchased a new stake in shares of Illumina during the fourth quarter valued at approximately $252,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ILMN. Stephens reaffirmed an “overweight” rating and set a $170.00 price target on shares of Illumina in a research report on Tuesday, May 7th. Barclays increased their price target on Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday, April 10th. StockNews.com raised Illumina from a “hold” rating to a “buy” rating in a research report on Saturday, May 11th. Scotiabank decreased their price target on Illumina from $185.00 to $176.00 and set a “sector outperform” rating for the company in a research report on Monday, May 6th. Finally, Robert W. Baird increased their price objective on Illumina from $125.00 to $128.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Illumina presently has an average rating of “Hold” and an average target price of $164.65.

Illumina Stock Performance

Shares of Illumina stock traded up $0.63 during trading hours on Friday, reaching $106.48. The company had a trading volume of 1,086,821 shares, compared to its average volume of 1,670,413. Illumina, Inc. has a one year low of $89.00 and a one year high of $213.12. The business has a fifty day simple moving average of $122.67 and a 200 day simple moving average of $126.67. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.36. The firm has a market cap of $16.96 billion, a PE ratio of -13.07 and a beta of 1.20.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $0.08 earnings per share. On average, analysts anticipate that Illumina, Inc. will post 0.87 earnings per share for the current fiscal year.

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.