Los Angeles Capital Management LLC Has $843,000 Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

Los Angeles Capital Management LLC decreased its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 81.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,077 shares of the life sciences company’s stock after selling 34,612 shares during the period. Los Angeles Capital Management LLC’s holdings in Illumina were worth $843,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ILMN. Candriam S.C.A. grew its stake in shares of Illumina by 8.6% in the 2nd quarter. Candriam S.C.A. now owns 205,043 shares of the life sciences company’s stock valued at $21,401,000 after buying an additional 16,283 shares in the last quarter. North Star Asset Management Inc. grew its position in Illumina by 43.7% in the second quarter. North Star Asset Management Inc. now owns 61,558 shares of the life sciences company’s stock worth $6,425,000 after acquiring an additional 18,707 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Illumina by 122.5% during the 2nd quarter. Private Advisor Group LLC now owns 11,025 shares of the life sciences company’s stock worth $1,152,000 after purchasing an additional 6,070 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Illumina by 5.9% during the 2nd quarter. Victory Capital Management Inc. now owns 134,094 shares of the life sciences company’s stock valued at $13,997,000 after purchasing an additional 7,527 shares in the last quarter. Finally, SouthState Corp lifted its stake in shares of Illumina by 37.1% in the 2nd quarter. SouthState Corp now owns 1,017 shares of the life sciences company’s stock valued at $106,000 after purchasing an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Barclays upgraded Illumina from an “underweight” rating to an “equal weight” rating and set a $125.00 target price on the stock in a report on Wednesday, August 14th. Royal Bank of Canada restated an “outperform” rating and issued a $242.00 target price on shares of Illumina in a report on Wednesday, August 14th. JPMorgan Chase & Co. decreased their target price on Illumina from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Jefferies Financial Group began coverage on shares of Illumina in a research report on Monday, June 3rd. They issued a “hold” rating and a $115.00 price target on the stock. Finally, Evercore ISI decreased their price objective on shares of Illumina from $195.00 to $175.00 and set an “outperform” rating for the company in a report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $151.05.

Illumina Price Performance

NASDAQ:ILMN opened at $126.25 on Friday. The company has a 50-day moving average of $122.94 and a 200-day moving average of $121.01. The company has a market capitalization of $20.11 billion, a price-to-earnings ratio of -15.49 and a beta of 1.15. Illumina, Inc. has a 52 week low of $89.00 and a 52 week high of $154.77. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. As a group, equities research analysts anticipate that Illumina, Inc. will post 3.89 earnings per share for the current fiscal year.

Illumina Company 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.