Mirae Asset Global Investments Co. Ltd. Decreases Position in Illumina, Inc. $ILMN

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 10.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Diversified Trust Co purchased a new stake in Illumina during the first quarter valued at approximately $355,000. Bourgeon Capital Management LLC raised its position in Illumina by 76.4% during the second quarter. Bourgeon Capital Management LLC now owns 141,896 shares of the life sciences company’s stock valued at $13,538,000 after purchasing an additional 61,468 shares during the period. GC Wealth Management RIA LLC bought a new position in shares of Illumina during the second quarter valued at approximately $2,289,000. State of Alaska Department of Revenue grew its stake in shares of Illumina by 2.5% during the first quarter. State of Alaska Department of Revenue now owns 18,527 shares of the life sciences company’s stock valued at $1,469,000 after buying an additional 445 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Illumina by 171.2% during the first quarter. Acadian Asset Management LLC now owns 32,921 shares of the life sciences company’s stock valued at $2,608,000 after buying an additional 20,784 shares during the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Stock Down 4.3%

Shares of NASDAQ:ILMN opened at $96.68 on Wednesday. Illumina, Inc. has a 52-week low of $68.70 and a 52-week high of $156.66. The stock has a market cap of $14.86 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 2.44 and a beta of 1.40. The business’s 50 day moving average is $98.65 and its 200 day moving average is $90.06. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.66.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on ILMN. Royal Bank Of Canada set a $124.00 target price on Illumina in a research note on Tuesday, September 2nd. Stephens set a $110.00 target price on Illumina and gave the company an “overweight” rating in a research note on Monday, August 4th. Scotiabank cut Illumina from a “sector outperform” rating to a “sector perform” rating and set a $125.00 target price on the stock. in a research note on Friday, July 11th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Illumina in a research note on Saturday, September 27th. Finally, Robert W. Baird upped their target price on Illumina from $84.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $123.56.

Illumina Company 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.