State of Alaska Department of Revenue Lowers Holdings in Illumina, Inc. $ILMN

State of Alaska Department of Revenue cut its holdings in Illumina, Inc. (NASDAQ:ILMN) by 4.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,787 shares of the life sciences company’s stock after selling 740 shares during the period. State of Alaska Department of Revenue’s holdings in Illumina were worth $1,697,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Merit Financial Group LLC raised its holdings in shares of Illumina by 344.8% during the 1st quarter. Merit Financial Group LLC now owns 13,036 shares of the life sciences company’s stock worth $1,034,000 after acquiring an additional 10,105 shares in the last quarter. RFG Advisory LLC boosted its position in shares of Illumina by 26.9% during the 1st quarter. RFG Advisory LLC now owns 3,891 shares of the life sciences company’s stock valued at $309,000 after acquiring an additional 824 shares during the last quarter. Portside Wealth Group LLC boosted its position in shares of Illumina by 14.8% during the 1st quarter. Portside Wealth Group LLC now owns 2,604 shares of the life sciences company’s stock valued at $207,000 after acquiring an additional 335 shares during the last quarter. Procyon Advisors LLC boosted its position in shares of Illumina by 7.4% during the 1st quarter. Procyon Advisors LLC now owns 15,526 shares of the life sciences company’s stock valued at $1,232,000 after acquiring an additional 1,073 shares during the last quarter. Finally, Tealwood Asset Management Inc. bought a new position in shares of Illumina during the 1st quarter valued at approximately $1,073,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ILMN has been the subject of a number of research reports. Robert W. Baird increased their target price on Illumina from $84.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Daiwa America downgraded Illumina from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 12th. Canaccord Genuity Group increased their target price on Illumina from $99.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, August 1st. Stephens set a $110.00 target price on Illumina and gave the company an “overweight” rating in a research report on Monday, August 4th. Finally, Morgan Stanley increased their price target on Illumina from $100.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Illumina currently has an average rating of “Hold” and a consensus target price of $123.33.

Illumina Price Performance

Shares of ILMN stock opened at $102.12 on Friday. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $156.66. The stock’s 50-day moving average is $99.07 and its 200 day moving average is $89.85. The company has a market cap of $15.70 billion, a P/E ratio of 12.93, a PEG ratio of 2.40 and a beta of 1.40. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.81 and a quick ratio of 1.41.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Thursday, July 31st. The life sciences company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.17. Illumina had a return on equity of 28.93% and a net margin of 29.36%.The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the company earned $0.36 earnings per share. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. Research analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current fiscal 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.