Los Angeles Capital Management LLC Acquires Shares of 47,250 Illumina, Inc. (NASDAQ:ILMN)

Los Angeles Capital Management LLC purchased a new stake in shares of Illumina, Inc. (NASDAQ:ILMN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 47,250 shares of the life sciences company’s stock, valued at approximately $6,579,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Natixis Advisors L.P. increased its position in shares of Illumina by 6.3% during the 4th quarter. Natixis Advisors L.P. now owns 314,244 shares of the life sciences company’s stock valued at $43,754,000 after purchasing an additional 18,569 shares during the last quarter. JFG Wealth Management LLC bought a new position in Illumina in the 4th quarter worth $278,000. Iyo Bank Ltd. bought a new stake in Illumina during the fourth quarter valued at about $766,000. Victory Capital Management Inc. raised its stake in shares of Illumina by 5.9% in the fourth quarter. Victory Capital Management Inc. now owns 122,743 shares of the life sciences company’s stock worth $17,091,000 after buying an additional 6,827 shares during the period. Finally, PGGM Investments lifted its position in shares of Illumina by 39.9% during the 4th quarter. PGGM Investments now owns 211,834 shares of the life sciences company’s stock valued at $29,496,000 after buying an additional 60,384 shares in the last quarter. Institutional investors own 89.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays lifted their target price on shares of Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a research note on Wednesday, April 10th. HSBC downgraded Illumina from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Royal Bank of Canada restated an “outperform” rating and issued a $253.00 price target on shares of Illumina in a research note on Tuesday, April 9th. Stephens restated an “overweight” rating and set a $170.00 target price 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 note on Friday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Illumina currently has an average rating of “Hold” and an average target price of $165.10.

Illumina Stock Performance

Shares of ILMN opened at $117.93 on Friday. The stock has a 50-day moving average of $130.03 and a two-hundred day moving average of $127.02. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.26. Illumina, Inc. has a one year low of $89.00 and a one year high of $213.91.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the company earned $0.08 EPS. Illumina’s quarterly revenue was down 1.0% on a year-over-year basis. On average, research analysts forecast that Illumina, Inc. will post 0.91 earnings per share for the current fiscal year.

Insider Transactions at Illumina

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

Illumina Profile

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.