Tidal Investments LLC Raises Stock Position in Illumina, Inc. $ILMN

Tidal Investments LLC increased its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 10.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 93,728 shares of the life sciences company’s stock after acquiring an additional 8,726 shares during the period. Tidal Investments LLC owned approximately 0.06% of Illumina worth $16,480,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ILMN. Empowered Funds LLC grew its position in shares of Illumina by 113.7% during the 1st quarter. Empowered Funds LLC now owns 9,284 shares of the life sciences company’s stock valued at $737,000 after purchasing an additional 4,940 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Illumina in the second quarter worth $621,000. CW Advisors LLC purchased a new stake in shares of Illumina in the second quarter worth $275,000. Marshall Wace LLP boosted its stake in Illumina by 49.0% during the second quarter. Marshall Wace LLP now owns 59,645 shares of the life sciences company’s stock valued at $5,691,000 after buying an additional 19,618 shares during the period. Finally, Cresset Asset Management LLC boosted its stake in Illumina by 30.9% during the second quarter. Cresset Asset Management LLC now owns 7,404 shares of the life sciences company’s stock valued at $706,000 after buying an additional 1,748 shares during the period. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ILMN shares. Daiwa Securities Group upgraded Illumina from a “neutral” rating to an “outperform” rating and set a $155.00 target price for the company in a research report on Thursday, May 14th. Canaccord Genuity Group lifted their price target on Illumina from $190.00 to $205.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. Stifel Nicolaus boosted their price objective on Illumina from $155.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of Illumina from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Finally, UBS Group began coverage on shares of Illumina in a research note on Wednesday. They issued a “buy” rating and a $260.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Illumina currently has an average rating of “Hold” and a consensus price target of $199.12.

Illumina Stock Performance

Shares of NASDAQ ILMN opened at $201.27 on Friday. The stock’s 50-day moving average is $200.54 and its 200 day moving average is $161.87. The stock has a market cap of $30.39 billion, a price-to-earnings ratio of 37.55, a P/E/G ratio of 2.90 and a beta of 1.46. Illumina, Inc. has a 1-year low of $88.00 and a 1-year high of $231.81. The company has a current ratio of 1.80, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, July 30th. The life sciences company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.08. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Illumina had a net margin of 18.36% and a return on equity of 29.84%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business earned $1.19 earnings per share. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. On average, sell-side analysts anticipate that Illumina, Inc. will post 5.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Keith Meister sold 119,501 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $218.40, for a total transaction of $26,099,018.40. Following the transaction, the director owned 770,350 shares of the company’s stock, valued at approximately $168,244,440. This trade represents a 13.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Christensen Wedel sold 1,033 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $191.52, for a total transaction of $197,840.16. Following the transaction, the senior vice president directly owned 14,023 shares in the company, valued at approximately $2,685,684.96. This represents a 6.86% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 2,062,465 shares of company stock valued at $436,589,802 in the last ninety days. 2.90% of the stock is owned by corporate insiders.

About Illumina

Illumina, Inc develops and manufactures genomic analysis technologies used by researchers, healthcare providers, pharmaceutical companies and other organizations. Its offerings include next-generation DNA sequencing systems, microarray platforms, consumables, laboratory services and bioinformatics software designed to help analyze genetic variation and biological functions.

The company’s sequencing instruments include systems for a range of applications and throughput levels, such as the NovaSeq, NextSeq, MiSeq and iSeq platforms.