John G Ullman & Associates Inc. Reduces Holdings in Illumina, Inc. (NASDAQ:ILMN)

John G Ullman & Associates Inc. lowered its position in Illumina, Inc. (NASDAQ:ILMN) by 78.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,600 shares of the life sciences company’s stock after selling 13,200 shares during the quarter. John G Ullman & Associates Inc.’s holdings in Illumina were worth $286,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ILMN. Rakuten Securities Inc. boosted its holdings in Illumina by 290.3% during the 1st quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company’s stock valued at $29,000 after acquiring an additional 270 shares during the period. Center for Financial Planning Inc. purchased a new stake in shares of Illumina during the first quarter valued at $33,000. Fourth Dimension Wealth LLC bought a new position in shares of Illumina in the fourth quarter worth about $40,000. PFS Partners LLC increased its stake in Illumina by 400.0% in the 1st quarter. PFS Partners LLC now owns 500 shares of the life sciences company’s stock worth $40,000 after buying an additional 400 shares during the period. Finally, Golden State Wealth Management LLC lifted its holdings in Illumina by 123.2% during the 1st quarter. Golden State Wealth Management LLC now owns 529 shares of the life sciences company’s stock valued at $42,000 after buying an additional 292 shares in the last quarter. Institutional investors own 89.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ILMN. Citigroup downgraded shares of Illumina from a “hold” rating to a “strong sell” rating and dropped their target price for the stock from $85.00 to $80.00 in a research note on Wednesday, July 9th. Guggenheim dropped their price objective on Illumina from $122.00 to $114.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Piper Sandler decreased their target price on Illumina from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, May 15th. JPMorgan Chase & Co. lowered their target price on Illumina from $120.00 to $85.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Finally, Royal Bank Of Canada cut their price target on Illumina from $128.00 to $112.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $125.11.

Illumina Price Performance

Shares of Illumina stock opened at $109.30 on Friday. The firm has a market cap of $17.30 billion, a PE ratio of -18.01, a P/E/G ratio of 2.10 and a beta of 1.36. Illumina, Inc. has a twelve month low of $68.70 and a twelve month high of $156.66. The company has a quick ratio of 1.48, a current ratio of 1.86 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $91.50 and a 200 day moving average price of $94.09.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Illumina had a positive return on equity of 25.54% and a negative net margin of 22.25%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 earnings per share. Sell-side analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Ankur Dhingra acquired 6,100 shares of Illumina stock in a transaction on Monday, May 12th. The stock was bought at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the transaction, the chief financial officer owned 24,906 shares of the company’s stock, valued at approximately $2,022,616.26. The trade was a 32.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.60% 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.