OVERSEA CHINESE BANKING Corp Ltd Takes $44.60 Million Position in Illumina, Inc. $ILMN

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Illumina, Inc. (NASDAQ:ILMN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 253,652 shares of the life sciences company’s stock, valued at approximately $44,600,000. Illumina makes up approximately 1.0% of OVERSEA CHINESE BANKING Corp Ltd’s holdings, making the stock its 19th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Elyxium Wealth LLC acquired a new stake in Illumina in the fourth quarter valued at $25,000. TD Waterhouse Canada Inc. bought a new position in Illumina during the 4th quarter valued at $26,000. Laurel Wealth Advisors LLC acquired a new position in Illumina during the 4th quarter worth $26,000. Activest Wealth Management grew its holdings in Illumina by 671.9% during the 4th quarter. Activest Wealth Management now owns 247 shares of the life sciences company’s stock worth $32,000 after acquiring an additional 215 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Illumina in the 3rd quarter worth about $32,000. Institutional investors own 89.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ILMN shares. Evercore restated an “outperform” rating on shares of Illumina in a research note on Monday, July 6th. Zacks Research upgraded Illumina from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Royal Bank Of Canada boosted their price objective on Illumina from $170.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Sanford C. Bernstein restated a “market perform” rating and set a $215.00 price objective on shares of Illumina in a research note on Friday, July 31st. Finally, Leerink Partners upped their price objective on Illumina from $175.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $188.40.

Insider Buying and Selling at Illumina

In related news, Director Keith A. Meister sold 283,269 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $199.61, for a total transaction of $56,543,325.09. Following the sale, the director owned 2,089,425 shares in the company, valued at $417,070,124.25. This represents a 11.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Scott D. Ericksen sold 500 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $160.00, for a total transaction of $80,000.00. Following the completion of the transaction, the chief accounting officer directly owned 14,446 shares in the company, valued at $2,311,360. This represents a 3.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,416,384 shares of company stock worth $256,164,151. 2.90% of the stock is owned by company insiders.

Illumina Stock Up 4.0%

ILMN stock opened at $213.24 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.80 and a quick ratio of 1.40. Illumina, Inc. has a 1-year low of $88.00 and a 1-year high of $220.32. The firm has a fifty day moving average price of $186.84 and a two-hundred day moving average price of $151.97. The firm has a market cap of $32.20 billion, a price-to-earnings ratio of 39.78, a PEG ratio of 2.89 and a beta of 1.45.

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

About Illumina

Illumina, Inc (NASDAQ: ILMN) is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company’s product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.