SRS Capital Advisors Inc. Lowers Holdings in Illumina, Inc. (NASDAQ:ILMN)

SRS Capital Advisors Inc. lowered its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 26.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,613 shares of the life sciences company’s stock after selling 953 shares during the period. SRS Capital Advisors Inc.’s holdings in Illumina were worth $364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ILMN. abrdn plc grew its position in Illumina by 764.9% during the fourth quarter. abrdn plc now owns 339,023 shares of the life sciences company’s stock valued at $47,206,000 after buying an additional 299,827 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Illumina during the 3rd quarter valued at about $29,558,000. International Assets Investment Management LLC increased its stake in shares of Illumina by 210.5% in the 4th quarter. International Assets Investment Management LLC now owns 48,194 shares of the life sciences company’s stock valued at $6,711,000 after purchasing an additional 32,672 shares in the last quarter. Aquila Investment Management LLC raised its holdings in Illumina by 150.0% in the 4th quarter. Aquila Investment Management LLC now owns 25,000 shares of the life sciences company’s stock worth $3,481,000 after purchasing an additional 15,000 shares during the period. Finally, Weil Company Inc. raised its holdings in Illumina by 59.2% in the 3rd quarter. Weil Company Inc. now owns 22,963 shares of the life sciences company’s stock worth $3,152,000 after purchasing an additional 8,539 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Price Performance

Shares of ILMN traded down $6.06 during mid-day trading on Friday, reaching $117.93. The stock had a trading volume of 2,987,105 shares, compared to its average volume of 1,375,095. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26. Illumina, Inc. has a 52-week low of $89.00 and a 52-week high of $213.91. The business’s fifty day moving average is $130.33 and its 200 day moving average is $127.11.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.28%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Illumina’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities research analysts anticipate that Illumina, Inc. will post 0.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ILMN shares. Barclays boosted their price objective on Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday, April 10th. Robert W. Baird boosted their price target on shares of Illumina from $125.00 to $128.00 and gave the stock a “neutral” rating in a report on Friday. HSBC cut shares of Illumina from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Stephens restated an “overweight” rating and set a $170.00 price objective on shares of Illumina in a research report on Wednesday, April 10th. Finally, StockNews.com cut shares of Illumina from a “buy” rating to a “hold” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $165.10.

Insider Activity at Illumina

In other news, CEO Jacob Thaysen acquired 7,330 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was purchased at an average price of $135.29 per share, with a total value of $991,675.70. Following the completion of the acquisition, the chief executive officer now owns 14,861 shares of the company’s stock, valued at approximately $2,010,544.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is currently owned by insiders.

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.