Illumina, Inc. (NASDAQ:ILMN) Stock Position Lowered by Parallel Advisors LLC

Parallel Advisors LLC lessened its position in Illumina, Inc. (NASDAQ:ILMNGet Rating) by 21.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,445 shares of the life sciences company’s stock after selling 4,193 shares during the period. Parallel Advisors LLC’s holdings in Illumina were worth $5,876,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Edgewood Management LLC boosted its holdings in shares of Illumina by 11.4% during the third quarter. Edgewood Management LLC now owns 6,905,705 shares of the life sciences company’s stock worth $2,801,023,000 after purchasing an additional 705,288 shares during the period. Geode Capital Management LLC raised its position in shares of Illumina by 3.2% in the third quarter. Geode Capital Management LLC now owns 2,621,064 shares of the life sciences company’s stock valued at $1,060,500,000 after purchasing an additional 81,712 shares during the period. Polen Capital Management LLC raised its position in shares of Illumina by 2.2% in the third quarter. Polen Capital Management LLC now owns 2,536,079 shares of the life sciences company’s stock valued at $1,028,659,000 after purchasing an additional 55,303 shares during the period. Invesco Ltd. increased its position in Illumina by 4.7% during the third quarter. Invesco Ltd. now owns 1,466,350 shares of the life sciences company’s stock worth $594,766,000 after acquiring an additional 65,545 shares during the period. Finally, Alliancebernstein L.P. increased its position in Illumina by 17.9% during the third quarter. Alliancebernstein L.P. now owns 1,145,765 shares of the life sciences company’s stock worth $464,734,000 after acquiring an additional 173,748 shares during the period. Institutional investors and hedge funds own 85.41% of the company’s stock.

A number of equities analysts recently issued reports on ILMN shares. Morgan Stanley started coverage on shares of Illumina in a research report on Thursday, January 6th. They set an “equal weight” rating and a $425.00 target price on the stock. Bank of America raised shares of Illumina from an “underperform” rating to a “neutral” rating and set a $390.00 target price on the stock in a research report on Friday, January 7th. Stifel Nicolaus raised shares of Illumina from a “hold” rating to a “buy” rating and set a $480.00 target price on the stock in a research report on Tuesday, January 18th. Citigroup dropped their target price on shares of Illumina from $450.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, January 6th. Finally, Piper Sandler raised their price objective on shares of Illumina from $450.00 to $460.00 and gave the stock an “overweight” rating in a report on Tuesday, February 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $419.25.

Shares of NASDAQ ILMN traded up $4.15 during midday trading on Friday, reaching $342.41. 8,894 shares of the stock were exchanged, compared to its average volume of 827,923. The business has a 50-day simple moving average of $345.43 and a two-hundred day simple moving average of $382.95. The company has a market capitalization of $53.76 billion, a price-to-earnings ratio of 66.98, a P/E/G ratio of 2.42 and a beta of 0.93. Illumina, Inc. has a 12 month low of $302.79 and a 12 month high of $526.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.48 and a quick ratio of 2.09.

Illumina (NASDAQ:ILMNGet Rating) last announced its quarterly earnings results on Thursday, February 10th. The life sciences company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.25. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Illumina had a net margin of 16.82% and a return on equity of 11.35%. The business’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same period last year, the firm posted $1.22 earnings per share. Equities research analysts expect that Illumina, Inc. will post 4.14 earnings per share for the current fiscal year.

In other Illumina news, SVP Charles Dadswell sold 322 shares of the business’s stock in a transaction dated Wednesday, December 22nd. The shares were sold at an average price of $380.29, for a total transaction of $122,453.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Susan H. Tousi sold 800 shares of the business’s stock in a transaction dated Wednesday, January 12th. The stock was sold at an average price of $425.00, for a total transaction of $340,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,222 shares of company stock worth $501,159. Insiders own 0.23% of the company’s stock.

About Illumina (Get Rating)

Illumina, Inc engages in the development, manufacturing, and marketing of life science tools and integrated systems for large-scale analysis of genetic variation and function. It operates through the Core Illumina segment, which serves customers in the research, clinical and applied markets fields, and enables the adoption of a variety of genomic solutions.

Further Reading

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