Illumina, Inc. (NASDAQ:ILMN) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System cut its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 11.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,400 shares of the life sciences company’s stock after selling 5,130 shares during the quarter. State of Michigan Retirement System’s holdings in Illumina were worth $4,008,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ILMN. Bouvel Investment Partners LLC grew its holdings in shares of Illumina by 1.3% during the first quarter. Bouvel Investment Partners LLC now owns 6,547 shares of the life sciences company’s stock worth $899,000 after buying an additional 84 shares during the last quarter. STF Management LP raised its holdings in Illumina by 3.5% during the fourth quarter. STF Management LP now owns 2,644 shares of the life sciences company’s stock worth $368,000 after purchasing an additional 90 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Illumina by 12.3% in the 1st quarter. Global Retirement Partners LLC now owns 856 shares of the life sciences company’s stock valued at $118,000 after purchasing an additional 94 shares in the last quarter. Gulf International Bank UK Ltd increased its holdings in shares of Illumina by 0.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 13,562 shares of the life sciences company’s stock valued at $1,862,000 after purchasing an additional 98 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Illumina by 4.9% during the first quarter. GAMMA Investing LLC now owns 2,258 shares of the life sciences company’s stock worth $310,000 after buying an additional 105 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Daiwa Capital Markets upgraded Illumina from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $120.00 to $154.00 in a report on Friday, August 16th. Scotiabank dropped their price target on Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 15th. Citigroup upped their price objective on Illumina from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Jefferies Financial Group assumed coverage on shares of Illumina in a research note on Monday, June 3rd. They set a “hold” rating and a $115.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their price objective on Illumina from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Illumina presently has a consensus rating of “Moderate Buy” and an average target price of $151.10.

Illumina Trading Up 0.2 %

NASDAQ ILMN traded up $0.32 on Tuesday, hitting $130.74. The company’s stock had a trading volume of 43,404 shares, compared to its average volume of 2,087,404. The company’s 50-day moving average is $117.37 and its 200 day moving average is $121.73. The firm has a market cap of $20.83 billion, a PE ratio of -16.00 and a beta of 1.15. Illumina, Inc. has a 1-year low of $89.00 and a 1-year high of $171.50. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.26.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.24. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the company earned $0.32 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, analysts predict that Illumina, Inc. will post 1.5 earnings per share for the current fiscal year.

About Illumina

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.