SouthState Corp Sells 289 Shares of Illumina, Inc. (NASDAQ:ILMN)

SouthState Corp lessened its stake in Illumina, Inc. (NASDAQ:ILMN) by 28.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 728 shares of the life sciences company’s stock after selling 289 shares during the quarter. SouthState Corp’s holdings in Illumina were worth $95,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Industrial Alliance Investment Management Inc. purchased a new position in Illumina in the second quarter worth about $34,000. Versant Capital Management Inc lifted its holdings in Illumina by 292.9% during the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after buying an additional 246 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of Illumina by 65.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock worth $56,000 after buying an additional 168 shares in the last quarter. Focused Wealth Management Inc purchased a new position in Illumina during the 3rd quarter valued at about $63,000. Finally, Hollencrest Capital Management bought a new position in Illumina in the third quarter worth approximately $63,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Wall Street Analyst Weigh In

ILMN has been the subject of several research reports. Scotiabank dropped their price objective on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. Barclays raised their target price on shares of Illumina from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Daiwa America raised shares of Illumina to a “strong-buy” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on shares of Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada boosted their price objective on Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $164.00.

Illumina Stock Performance

Shares of Illumina stock opened at $135.00 on Wednesday. The company’s 50 day moving average price is $140.04 and its two-hundred day moving average price is $124.47. The firm has a market capitalization of $21.41 billion, a P/E ratio of -13.55 and a beta of 1.13. Illumina, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $156.66. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 EPS. On average, equities analysts forecast that Illumina, Inc. will post 4.11 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.