Golden State Wealth Management LLC Raises Holdings in Illumina, Inc. (NASDAQ:ILMN)

Golden State Wealth Management LLC lifted its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 123.2% in the first quarter, HoldingsChannel.com reports. The firm owned 529 shares of the life sciences company’s stock after acquiring an additional 292 shares during the quarter. Golden State Wealth Management LLC’s holdings in Illumina were worth $42,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ILMN. IFP Advisors Inc grew its holdings in shares of Illumina by 19.1% during the 4th quarter. IFP Advisors Inc now owns 617 shares of the life sciences company’s stock worth $82,000 after purchasing an additional 99 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in Illumina during the fourth quarter worth about $901,000. Metis Global Partners LLC boosted its stake in Illumina by 6.4% during the fourth quarter. Metis Global Partners LLC now owns 3,803 shares of the life sciences company’s stock worth $508,000 after buying an additional 228 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Illumina by 28.6% during the 4th quarter. Jones Financial Companies Lllp now owns 4,632 shares of the life sciences company’s stock worth $619,000 after purchasing an additional 1,030 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Illumina during the 4th quarter worth approximately $152,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ILMN shares. Barclays reaffirmed an “underweight” rating and set a $85.00 price objective (up previously from $77.00) on shares of Illumina in a research report on Tuesday, June 24th. JPMorgan Chase & Co. lowered their target price on Illumina from $120.00 to $85.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Piper Sandler lowered their target price on Illumina from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Thursday, May 15th. Citigroup lowered their price objective on shares of Illumina from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Finally, Robert W. Baird lowered their price objective on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $127.39.

Illumina Stock Up 2.9%

Shares of NASDAQ:ILMN opened at $98.15 on Wednesday. The company has a market capitalization of $15.54 billion, a PE ratio of -16.17, a P/E/G ratio of 1.87 and a beta of 1.36. The company has a current ratio of 1.86, a quick ratio of 1.48 and a debt-to-equity ratio of 0.63. Illumina, Inc. has a twelve month low of $68.70 and a twelve month high of $156.66. The firm has a 50 day simple moving average of $83.64 and a 200-day simple moving average of $98.31.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Illumina had a positive return on equity of 25.54% and a negative net margin of 22.25%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. On average, equities analysts predict that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Ankur Dhingra acquired 6,100 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the transaction, the chief financial officer owned 24,906 shares in the company, valued at $2,022,616.26. This trade represents a 32.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.17% of the company’s stock.

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.