OVERSEA CHINESE BANKING Corp Ltd Invests $6.71 Million in Illumina, Inc. $ILMN

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Illumina, Inc. (NASDAQ:ILMN) during the second quarter, Holdings Channel reports. The fund purchased 38,167 shares of the life sciences company’s stock, valued at approximately $6,711,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ILMN. HighPoint Advisor Group LLC boosted its position in Illumina by 3.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,218 shares of the life sciences company’s stock valued at $291,000 after buying an additional 80 shares during the period. Elevation Wealth Partners LLC raised its holdings in Illumina by 52.5% in the second quarter. Elevation Wealth Partners LLC now owns 244 shares of the life sciences company’s stock valued at $43,000 after acquiring an additional 84 shares in the last quarter. Meeder Advisory Services Inc. raised its holdings in Illumina by 3.1% in the first quarter. Meeder Advisory Services Inc. now owns 2,822 shares of the life sciences company’s stock valued at $348,000 after acquiring an additional 85 shares in the last quarter. Toronto Dominion Bank lifted its stake in Illumina by 0.3% in the fourth quarter. Toronto Dominion Bank now owns 33,605 shares of the life sciences company’s stock worth $4,407,000 after acquiring an additional 92 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in Illumina by 3.9% in the fourth quarter. Panagora Asset Management Inc. now owns 2,536 shares of the life sciences company’s stock worth $333,000 after acquiring an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Zacks Research raised shares of Illumina from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Weiss Ratings raised shares of Illumina from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 3rd. TD Cowen lifted their price objective on shares of Illumina from $192.00 to $210.00 and gave the stock a “hold” rating in a research report on Friday, July 31st. Citigroup boosted their target price on shares of Illumina from $95.00 to $113.00 and gave the stock a “sell” rating in a research note on Monday, August 3rd. Finally, Canaccord Genuity Group increased their target price on Illumina from $190.00 to $205.00 and gave the company a “hold” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Illumina presently has an average rating of “Hold” and an average price target of $188.40.

Illumina Stock Performance

Shares of ILMN opened at $213.24 on Friday. The company has a market capitalization of $32.20 billion, a price-to-earnings ratio of 39.78, a price-to-earnings-growth ratio of 2.89 and a beta of 1.45. Illumina, Inc. has a 52-week low of $88.00 and a 52-week high of $220.32. The company has a quick ratio of 1.40, a current ratio of 1.80 and a debt-to-equity ratio of 0.53. The stock has a 50 day moving average price of $186.84 and a 200 day moving average price of $151.97.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Thursday, July 30th. The life sciences company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.08. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Illumina had a net margin of 18.36% and a return on equity of 29.84%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $1.19 earnings per share. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. Research analysts predict that Illumina, Inc. will post 5.36 EPS for the current fiscal year.

Insider Activity

In related news, CAO Scott D. Ericksen sold 500 shares of Illumina stock in a transaction on Friday, May 29th. The shares were sold at an average price of $160.00, for a total transaction of $80,000.00. Following the sale, the chief accounting officer directly owned 14,446 shares in the company, valued at $2,311,360. This trade represents a 3.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Patricia Leckman sold 783 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $162.59, for a total transaction of $127,307.97. Following the completion of the transaction, the senior vice president owned 21,259 shares of the company’s stock, valued at $3,456,500.81. This represents a 3.55% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,416,384 shares of company stock worth $256,164,151 over the last three months. Company insiders own 2.90% of the company’s stock.

Illumina Profile

Illumina, Inc (NASDAQ: ILMN) is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company’s product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.