Soma Equity Partners LP Has $98.67 Million Holdings in Illumina, Inc. (NASDAQ:ILMN)

Soma Equity Partners LP trimmed its holdings in Illumina, Inc. (NASDAQ:ILMN) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 738,393 shares of the life sciences company’s stock after selling 83,363 shares during the period. Illumina accounts for about 5.5% of Soma Equity Partners LP’s portfolio, making the stock its 12th biggest holding. Soma Equity Partners LP’s holdings in Illumina were worth $98,671,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Golden State Wealth Management LLC bought a new stake in shares of Illumina during the fourth quarter worth approximately $32,000. Assetmark Inc. lifted its holdings in Illumina by 954.8% during the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock worth $44,000 after purchasing an additional 296 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Illumina in the 4th quarter valued at $45,000. Lee Danner & Bass Inc. bought a new stake in Illumina in the 4th quarter valued at $48,000. Finally, V Square Quantitative Management LLC grew its holdings in Illumina by 50.6% in the 4th quarter. V Square Quantitative Management LLC now owns 393 shares of the life sciences company’s stock valued at $52,000 after buying an additional 132 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Ankur Dhingra bought 6,100 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average cost of $81.21 per share, with a total value of $495,381.00. Following the completion of the purchase, the chief financial officer now directly owns 24,906 shares in the company, valued at $2,022,616.26. The trade was a 32.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ILMN shares. Citigroup reduced their target price on shares of Illumina from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Morgan Stanley dropped their price objective on shares of Illumina from $136.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday. JPMorgan Chase & Co. decreased their target price on shares of Illumina from $120.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Guggenheim lowered their target price on shares of Illumina from $122.00 to $114.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Finally, Hsbc Global Res downgraded shares of Illumina from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $130.70.

Illumina Price Performance

Shares of ILMN opened at $80.90 on Friday. The business has a 50-day moving average of $78.50 and a 200-day moving average of $111.80. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. The company has a market capitalization of $12.80 billion, a price-to-earnings ratio of -10.53, a price-to-earnings-growth ratio of 1.60 and a beta of 1.35. Illumina, Inc. has a 1 year low of $68.70 and a 1 year high of $156.66.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company posted $0.98 earnings per share. Illumina’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current 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.