Mirae Asset Global Investments Co. Ltd. Reduces Stake in Illumina, Inc. $ILMN

Mirae Asset Global Investments Co. Ltd. reduced its position in Illumina, Inc. (NASDAQ:ILMN) by 10.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,006 shares of the life sciences company’s stock after selling 4,299 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Illumina were worth $3,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Rise Advisors LLC lifted its position in Illumina by 173.6% during the first quarter. Rise Advisors LLC now owns 353 shares of the life sciences company’s stock valued at $28,000 after purchasing an additional 224 shares in the last quarter. Rakuten Securities Inc. lifted its position in Illumina by 290.3% during the first quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company’s stock valued at $29,000 after purchasing an additional 270 shares in the last quarter. Center for Financial Planning Inc. purchased a new position in Illumina during the first quarter valued at $33,000. Golden State Wealth Management LLC lifted its position in Illumina by 123.2% during the first quarter. Golden State Wealth Management LLC now owns 529 shares of the life sciences company’s stock valued at $42,000 after purchasing an additional 292 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in Illumina by 2,936.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 577 shares of the life sciences company’s stock valued at $46,000 after purchasing an additional 558 shares in the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Price Performance

NASDAQ:ILMN opened at $96.68 on Wednesday. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $14.86 billion, a P/E ratio of 12.24, a P/E/G ratio of 2.44 and a beta of 1.40. Illumina, Inc. has a 12 month low of $68.70 and a 12 month high of $156.66. The business’s 50-day moving average is $98.65 and its 200 day moving average is $90.06.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, July 31st. The life sciences company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.17. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.12 billion. Illumina had a return on equity of 28.93% and a net margin of 29.36%.The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. On average, equities research analysts forecast that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Illumina in a research report on Saturday, September 27th. Royal Bank Of Canada set a $124.00 target price on Illumina in a research report on Tuesday, September 2nd. Citigroup downgraded Illumina from a “hold” rating to a “strong sell” rating and lowered their price objective for the company from $85.00 to $80.00 in a research report on Wednesday, July 9th. Daiwa Capital Markets downgraded Illumina from an “outperform” rating to a “neutral” rating and set a $94.00 price objective on the stock. in a research report on Tuesday, August 12th. Finally, Robert W. Baird boosted their price objective on Illumina from $84.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Six investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $123.56.

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.