Legato Capital Management LLC Cuts Stock Holdings in Illumina, Inc. $ILMN

Legato Capital Management LLC reduced its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 22.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,300 shares of the life sciences company’s stock after selling 5,700 shares during the quarter. Legato Capital Management LLC’s holdings in Illumina were worth $2,531,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Capital World Investors grew its position in Illumina by 20.0% during the 3rd quarter. Capital World Investors now owns 19,976,850 shares of the life sciences company’s stock worth $1,897,178,000 after acquiring an additional 3,331,542 shares during the last quarter. State Street Corp lifted its position in Illumina by 6.8% in the third quarter. State Street Corp now owns 5,999,790 shares of the life sciences company’s stock valued at $569,800,000 after purchasing an additional 382,520 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Illumina by 3.1% during the third quarter. AQR Capital Management LLC now owns 3,398,027 shares of the life sciences company’s stock valued at $315,915,000 after purchasing an additional 102,147 shares during the period. Bank of America Corp DE boosted its stake in shares of Illumina by 1.9% during the second quarter. Bank of America Corp DE now owns 1,930,843 shares of the life sciences company’s stock valued at $184,222,000 after purchasing an additional 35,167 shares during the period. Finally, ARK Investment Management LLC grew its holdings in shares of Illumina by 25.7% in the third quarter. ARK Investment Management LLC now owns 1,467,879 shares of the life sciences company’s stock worth $139,405,000 after purchasing an additional 299,801 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Evercore reiterated an “outperform” rating on shares of Illumina in a report on Friday, May 1st. Daiwa Securities Group upgraded shares of Illumina from a “neutral” rating to an “outperform” rating and set a $155.00 price objective on the stock in a research report on Thursday, May 14th. Weiss Ratings downgraded shares of Illumina from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, April 29th. Wall Street Zen lowered shares of Illumina from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Piper Sandler cut their target price on Illumina from $195.00 to $170.00 and set an “overweight” rating on the stock in a research note on Monday, February 9th. Seven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Illumina currently has a consensus rating of “Hold” and a consensus price target of $137.75.

Insider Activity

In other Illumina news, Director Keith A. Meister sold 104,393 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $145.34, for a total transaction of $15,172,478.62. Following the transaction, the director owned 3,500,048 shares in the company, valued at approximately $508,696,976.32. This represents a 2.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christensen Jakob Wedel sold 700 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $139.04, for a total value of $97,328.00. Following the completion of the transaction, the senior vice president directly owned 15,056 shares of the company’s stock, valued at $2,093,386.24. This represents a 4.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 330,160 shares of company stock valued at $48,028,308 over the last 90 days. 2.90% of the stock is currently owned by company insiders.

Illumina Stock Performance

NASDAQ:ILMN opened at $144.41 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.56. The firm’s fifty day simple moving average is $130.45 and its 200 day simple moving average is $130.91. The stock has a market cap of $21.85 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 2.40 and a beta of 1.42. Illumina, Inc. has a twelve month low of $78.55 and a twelve month high of $155.53.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, April 30th. The life sciences company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.05 by $0.10. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Illumina had a net margin of 19.42% and a return on equity of 31.01%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company posted $0.97 EPS. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. As a group, research analysts predict that Illumina, Inc. will post 5.2 EPS for the current 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.