Diamond Hill Capital Management LLC Investment Advisor Invests $53.04 Million in Illumina, Inc. $ILMN

Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Illumina, Inc. (NASDAQ:ILMN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 301,642 shares of the life sciences company’s stock, valued at approximately $53,038,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. HighPoint Advisor Group LLC boosted its stake 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 worth $291,000 after purchasing an additional 80 shares during the period. Elevation Wealth Partners LLC raised its position in shares of Illumina by 52.5% during the second quarter. Elevation Wealth Partners LLC now owns 244 shares of the life sciences company’s stock valued at $43,000 after buying an additional 84 shares during the last quarter. Meeder Advisory Services Inc. raised its position in shares of Illumina by 3.1% during the first quarter. Meeder Advisory Services Inc. now owns 2,822 shares of the life sciences company’s stock valued at $348,000 after buying an additional 85 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of 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 buying an additional 92 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in shares of 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 buying an additional 96 shares in the last quarter. Institutional investors own 89.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Evercore reaffirmed an “outperform” rating on shares of Illumina in a research note on Monday, July 6th. Daiwa Securities Group upgraded shares of Illumina from a “neutral” rating to an “outperform” rating and set a $155.00 price target on the stock in a research note on Thursday, May 14th. Sanford C. Bernstein reissued a “market perform” rating and set a $215.00 price objective on shares of Illumina in a report on Friday, July 31st. JPMorgan Chase & Co. raised their price objective on Illumina from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Royal Bank Of Canada lifted their target price on Illumina from $170.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $188.40.

Insider Buying and Selling

In other Illumina news, Director Keith A. Meister sold 457,858 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $200.10, for a total transaction of $91,617,385.80. Following the sale, the director directly owned 2,372,694 shares of the company’s stock, valued at $474,776,069.40. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott M. Davies sold 615 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $200.00, for a total value of $123,000.00. Following the sale, the insider owned 20,338 shares in the company, valued at approximately $4,067,600. This trade represents a 2.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 1,415,351 shares of company stock worth $255,966,311. Insiders own 2.90% of the company’s stock.

Illumina Price Performance

ILMN stock opened at $190.89 on Monday. Illumina, Inc. has a 52 week low of $88.00 and a 52 week high of $207.00. The firm has a market capitalization of $28.82 billion, a P/E ratio of 35.61, a price-to-earnings-growth ratio of 2.69 and a beta of 1.44. The company has a fifty day simple moving average of $183.78 and a two-hundred day simple moving average of $150.54. The company has a quick ratio of 1.40, a current ratio of 1.80 and a debt-to-equity ratio of 0.53.

Illumina (NASDAQ:ILMN) last posted its earnings results 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 firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Illumina had a net margin of 18.36% and a return on equity of 29.84%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 EPS. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. Analysts anticipate that Illumina, Inc. will post 5.36 earnings per share for the current fiscal year.

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.