Mengis Capital Management Inc. Invests $1.22 Million in Illumina, Inc. (NASDAQ:ILMN)

Mengis Capital Management Inc. acquired a new stake in Illumina, Inc. (NASDAQ:ILMN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,362 shares of the life sciences company’s stock, valued at approximately $1,221,000.

A number of other large investors have also modified their holdings of the business. Janney Montgomery Scott LLC grew its holdings in Illumina by 41.5% during the first quarter. Janney Montgomery Scott LLC now owns 3,070 shares of the life sciences company’s stock worth $422,000 after acquiring an additional 900 shares during the period. Empowered Funds LLC boosted its position in shares of Illumina by 26.9% during the 1st quarter. Empowered Funds LLC now owns 3,340 shares of the life sciences company’s stock worth $459,000 after purchasing an additional 708 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of Illumina during the 1st quarter worth $307,000. Sei Investments Co. increased its holdings in shares of Illumina by 309.3% in the 1st quarter. Sei Investments Co. now owns 71,143 shares of the life sciences company’s stock valued at $9,769,000 after purchasing an additional 53,761 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its stake in shares of Illumina by 25.4% in the first quarter. QRG Capital Management Inc. now owns 6,874 shares of the life sciences company’s stock valued at $944,000 after purchasing an additional 1,393 shares during the period. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Stock Performance

Illumina stock opened at $147.62 on Wednesday. The firm has a market capitalization of $23.41 billion, a P/E ratio of -14.82 and a beta of 1.13. Illumina, Inc. has a 52 week low of $92.26 and a 52 week high of $156.66. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The stock has a fifty day moving average price of $138.84 and a 200 day moving average price of $123.95.

Illumina (NASDAQ:ILMN) last issued its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the firm earned $0.33 earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. Equities research analysts anticipate that Illumina, Inc. will post 4.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ILMN shares. Robert W. Baird increased their target price on shares of Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Citigroup raised their price objective on Illumina from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Hsbc Global Res upgraded Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 target price on the stock in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their price target on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, UBS Group boosted their price objective on shares of Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Illumina has an average rating of “Moderate Buy” and a consensus price target of $164.00.

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.