Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in Illumina, Inc. $ILMN

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 12.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,171 shares of the life sciences company’s stock after buying an additional 15,456 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Illumina were worth $13,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC increased its holdings in shares of 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 acquiring an additional 224 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Illumina by 65.7% in the second quarter. Parkside Financial Bank & Trust now owns 290 shares of the life sciences company’s stock worth $28,000 after purchasing an additional 115 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Illumina in the second quarter valued at approximately $41,000. NewSquare Capital LLC raised its position in Illumina by 604.9% during the 2nd quarter. NewSquare Capital LLC now owns 430 shares of the life sciences company’s stock worth $41,000 after buying an additional 369 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Illumina by 2,936.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 577 shares of the life sciences company’s stock valued at $46,000 after acquiring an additional 558 shares during the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Illumina in a research report on Wednesday, October 8th. Canaccord Genuity Group increased their price target on shares of Illumina from $105.00 to $112.00 and gave the stock a “hold” rating in a report on Friday, October 31st. Morgan Stanley increased their target price on shares of Illumina from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. TD Cowen upped their price target on Illumina from $110.00 to $115.00 and gave the stock a “hold” rating in a report on Friday, October 31st. Finally, Stephens set a $110.00 target price on Illumina and gave the stock an “overweight” rating in a research note on Monday, August 4th. Five research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Illumina currently has a consensus rating of “Hold” and a consensus price target of $115.00.

Illumina Stock Down 0.5%

NASDAQ ILMN opened at $121.98 on Thursday. Illumina, Inc. has a one year low of $68.70 and a one year high of $153.06. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.41 and a current ratio of 1.81. The business has a fifty day moving average price of $101.96 and a 200 day moving average price of $95.38. The company has a market cap of $18.64 billion, a P/E ratio of 15.44, a P/E/G ratio of 2.34 and a beta of 1.42.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, October 30th. The life sciences company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.18. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business earned $1.14 earnings per share. The company’s quarterly revenue was up .4% compared to the same quarter last year. Illumina has set its FY 2025 guidance at 4.650-4.750 EPS. Research analysts anticipate that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

Insider Activity

In related news, Director Scott Gottlieb purchased 500 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was acquired at an average cost of $122.13 per share, for a total transaction of $61,065.00. Following the completion of the transaction, the director directly owned 12,523 shares of the company’s stock, valued at approximately $1,529,433.99. This trade represents a 4.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by company insiders.

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.