OVERSEA CHINESE BANKING Corp Ltd Invests $44.60 Million in Illumina, Inc. $ILMN

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Illumina, Inc. (NASDAQ:ILMN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 253,652 shares of the life sciences company’s stock, valued at approximately $44,600,000. Illumina makes up approximately 1.0% of OVERSEA CHINESE BANKING Corp Ltd’s investment portfolio, making the stock its 19th largest holding. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.17% of Illumina as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ILMN. Elyxium Wealth LLC purchased a new position in Illumina in the fourth quarter valued at approximately $25,000. TD Waterhouse Canada Inc. acquired a new position in Illumina during the fourth quarter valued at approximately $26,000. Laurel Wealth Advisors LLC purchased a new stake in Illumina during the fourth quarter worth approximately $26,000. Activest Wealth Management grew its stake in Illumina by 671.9% during the fourth quarter. Activest Wealth Management now owns 247 shares of the life sciences company’s stock worth $32,000 after buying an additional 215 shares during the period. Finally, Quarry LP acquired a new stake in shares of Illumina in the third quarter worth $32,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Insider Transactions at Illumina

In other Illumina news, insider Scott M. Davies sold 615 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $200.00, for a total value of $123,000.00. Following the completion of the transaction, the insider directly owned 20,338 shares of the company’s stock, valued at $4,067,600. This represents a 2.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith A. Meister sold 457,858 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $200.10, for a total transaction of $91,617,385.80. Following the completion of the transaction, the director directly owned 2,372,694 shares of the company’s stock, valued at approximately $474,776,069.40. The trade was a 16.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,416,384 shares of company stock worth $256,164,151 over the last three months. Insiders own 2.90% of the company’s stock.

Illumina Trading Up 4.0%

ILMN opened at $213.24 on Friday. The firm has a market capitalization of $32.20 billion, a P/E ratio of 39.78, a P/E/G ratio of 2.89 and a beta of 1.45. The firm’s 50 day moving average is $186.84 and its 200-day moving average is $151.97. 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.

Illumina (NASDAQ:ILMN) last announced its earnings results on Thursday, July 30th. The life sciences company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.08. The business had revenue of $1.16 billion during 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 earnings per share. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. Analysts expect that Illumina, Inc. will post 5.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ILMN. Weiss Ratings raised shares of Illumina from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 3rd. Leerink Partners upped their price target on shares of Illumina from $175.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Wall Street Zen upgraded Illumina from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Citigroup raised their price objective on Illumina from $95.00 to $113.00 and gave the company a “sell” rating in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on Illumina from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Illumina currently has an average rating of “Hold” and an average target price of $188.40.

Illumina Company 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.