OVERSEA CHINESE BANKING Corp Ltd Has $29.03 Million Stock Position in Illumina, Inc. $ILMN

OVERSEA CHINESE BANKING Corp Ltd reduced its position in Illumina, Inc. (NASDAQ:ILMN) by 2.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 304,247 shares of the life sciences company’s stock after selling 6,233 shares during the period. Illumina accounts for approximately 0.8% of OVERSEA CHINESE BANKING Corp Ltd’s investment portfolio, making the stock its 29th largest holding. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.19% of Illumina worth $29,028,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ILMN. Corvex Management LP increased its stake in shares of Illumina by 125.2% in the 1st quarter. Corvex Management LP now owns 3,829,608 shares of the life sciences company’s stock valued at $303,841,000 after buying an additional 2,129,449 shares during the period. AQR Capital Management LLC increased its stake in shares of Illumina by 361.7% in the 1st quarter. AQR Capital Management LLC now owns 2,121,585 shares of the life sciences company’s stock valued at $165,484,000 after buying an additional 1,662,093 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Illumina by 11,714.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,161,882 shares of the life sciences company’s stock valued at $92,184,000 after buying an additional 1,152,048 shares during the period. Brown Advisory Inc. grew its stake in shares of Illumina by 52.1% during the first quarter. Brown Advisory Inc. now owns 2,909,228 shares of the life sciences company’s stock worth $230,818,000 after purchasing an additional 996,589 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Illumina by 51.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,960,385 shares of the life sciences company’s stock valued at $155,537,000 after purchasing an additional 667,978 shares during the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.

Illumina Trading Up 0.1%

NASDAQ:ILMN opened at $100.11 on Monday. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.81 and a quick ratio of 1.41. The stock has a market capitalization of $15.39 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 2.47 and a beta of 1.40. The business’s 50-day simple moving average is $98.17 and its 200-day simple moving average is $91.76.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ILMN. Robert W. Baird set a $105.00 price objective on Illumina in a report on Friday. Stephens set a $110.00 price objective on Illumina and gave the company an “overweight” rating in a report on Monday, August 4th. Daiwa Capital Markets downgraded Illumina from an “outperform” rating to a “neutral” rating and set a $94.00 price objective for the company. in a report on Tuesday, August 12th. Canaccord Genuity Group upped their price objective on Illumina from $99.00 to $105.00 and gave the company a “hold” rating in a report on Friday, August 1st. Finally, Royal Bank Of Canada set a $124.00 price objective on Illumina in a report on Tuesday, September 2nd. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Illumina has an average rating of “Hold” and an average price target of $115.25.

About Illumina

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.