Pallas Capital Advisors LLC Acquires New Position in Illumina, Inc. $ILMN

Pallas Capital Advisors LLC acquired a new position in shares of Illumina, Inc. (NASDAQ:ILMN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 25,513 shares of the life sciences company’s stock, valued at approximately $4,486,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its stake in shares of Illumina by 113.7% during the 1st quarter. Empowered Funds LLC now owns 9,284 shares of the life sciences company’s stock worth $737,000 after acquiring an additional 4,940 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Illumina in the 2nd quarter valued at approximately $621,000. CW Advisors LLC purchased a new position in Illumina in the 2nd quarter valued at approximately $275,000. Marshall Wace LLP raised its holdings in Illumina by 49.0% during the second quarter. Marshall Wace LLP now owns 59,645 shares of the life sciences company’s stock worth $5,691,000 after purchasing an additional 19,618 shares during the last quarter. Finally, Cresset Asset Management LLC raised its holdings in Illumina by 30.9% during the second quarter. Cresset Asset Management LLC now owns 7,404 shares of the life sciences company’s stock worth $706,000 after purchasing an additional 1,748 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Illumina

In related news, Director Keith A. Meister sold 457,858 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $200.10, for a total value of $91,617,385.80. Following the sale, the director directly owned 2,372,694 shares of the company’s stock, valued at approximately $474,776,069.40. This trade represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Scott D. Ericksen sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $150.10, for a total transaction of $225,150.00. Following the completion of the sale, the chief accounting officer owned 14,946 shares of the company’s stock, valued at approximately $2,243,394.60. The trade was a 9.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,415,351 shares of company stock valued at $255,966,311. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Zacks Research raised Illumina from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Stifel Nicolaus lifted their price target on Illumina from $155.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Evercore reiterated an “outperform” rating on shares of Illumina in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft cut shares of Illumina to a “hold” rating in a research note on Wednesday, August 5th. Finally, Daiwa Securities Group upgraded shares of Illumina from a “neutral” rating to an “outperform” rating and set a $155.00 target price for the company in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $188.40.

Illumina Stock Performance

Shares of NASDAQ ILMN opened at $193.13 on Tuesday. The company has a 50-day simple moving average of $184.48 and a 200-day simple moving average of $150.83. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.80 and a quick ratio of 1.40. The company has a market cap of $29.16 billion, a PE ratio of 36.03, a price-to-earnings-growth ratio of 2.69 and a beta of 1.45. Illumina, Inc. has a 12 month low of $88.00 and a 12 month high of $207.00.

Illumina (NASDAQ:ILMN) last released its earnings results on Thursday, July 30th. The life sciences company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.08. Illumina had a return on equity of 29.84% and a net margin of 18.36%.The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the business posted $1.19 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. On average, equities analysts anticipate that Illumina, Inc. will post 5.36 earnings per share 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.