Capital Investment Services of America Inc. Boosts Stake in Illumina, Inc. (NASDAQ:ILMN)

Capital Investment Services of America Inc. lifted its holdings in Illumina, Inc. (NASDAQ:ILMN) by 13.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,141 shares of the life sciences company’s stock after buying an additional 11,524 shares during the quarter. Capital Investment Services of America Inc. owned 0.06% of Illumina worth $7,628,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Bank of Stockton lifted its holdings in Illumina by 3.8% during the 4th quarter. Bank of Stockton now owns 2,162 shares of the life sciences company’s stock worth $289,000 after buying an additional 80 shares during the last quarter. Stephens Inc. AR lifted its holdings in Illumina by 1.4% during the 4th quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company’s stock worth $885,000 after buying an additional 90 shares during the last quarter. IFP Advisors Inc lifted its holdings in 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 buying an additional 99 shares during the last quarter. Freedom Investment Management Inc. lifted its holdings in Illumina by 3.7% during the 4th quarter. Freedom Investment Management Inc. now owns 2,856 shares of the life sciences company’s stock worth $382,000 after buying an additional 101 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its holdings in Illumina by 8.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 1,731 shares of the life sciences company’s stock worth $231,000 after buying an additional 131 shares during the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Ankur Dhingra purchased 6,100 shares of the stock in a transaction dated Monday, May 12th. The shares were bought at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the transaction, the chief financial officer now owns 24,906 shares in the company, valued at $2,022,616.26. This trade represents a 32.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ILMN has been the topic of a number of research analyst reports. Barclays reduced their target price on Illumina from $100.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 10th. Stephens reaffirmed an “overweight” rating and set a $105.00 target price on shares of Illumina in a report on Tuesday, May 20th. HSBC downgraded Illumina from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a report on Friday, February 28th. Piper Sandler cut their price target on Illumina from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. cut their price target on Illumina from $120.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. One 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 assigned a strong buy rating to the company. According to data from MarketBeat, Illumina currently has an average rating of “Moderate Buy” and a consensus price target of $126.94.

Illumina Stock Down 1.4%

ILMN opened at $86.93 on Friday. Illumina, Inc. has a 12 month low of $68.70 and a 12 month high of $156.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. The stock has a market cap of $13.76 billion, a P/E ratio of -11.32, a P/E/G ratio of 1.60 and a beta of 1.32. The stock’s 50 day moving average price is $79.08 and its 200 day moving average price is $102.92.

Illumina (NASDAQ:ILMN) last posted its earnings results 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. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm earned $0.98 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. As a group, research analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current year.

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.