OVERSEA CHINESE BANKING Corp Ltd Sells 39,734 Shares of Illumina, Inc. (NASDAQ:ILMN)

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 12.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 267,120 shares of the life sciences company's stock after selling 39,734 shares during the quarter. Illumina comprises approximately 1.0% of OVERSEA CHINESE BANKING Corp Ltd's holdings, making the stock its 26th largest position. OVERSEA CHINESE BANKING Corp Ltd owned about 0.17% of Illumina worth $34,835,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its position in shares of Illumina by 7.0% in the 2nd quarter. UMB Bank n.a. now owns 1,341 shares of the life sciences company's stock worth $140,000 after acquiring an additional 88 shares during the period. Integrated Advisors Network LLC raised its position in shares of Illumina by 2.0% during the third quarter. Integrated Advisors Network LLC now owns 4,484 shares of the life sciences company's stock worth $585,000 after acquiring an additional 90 shares during the last quarter. Carson Advisory Inc. raised its position in shares of Illumina by 3.8% during the third quarter. Carson Advisory Inc. now owns 2,757 shares of the life sciences company's stock worth $360,000 after acquiring an additional 102 shares during the last quarter. Institute for Wealth Management LLC. grew its stake in shares of Illumina by 4.6% during the second quarter. Institute for Wealth Management LLC. now owns 2,728 shares of the life sciences company's stock worth $285,000 after purchasing an additional 119 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Illumina by 65.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company's stock worth $56,000 after purchasing an additional 168 shares during the period. Institutional investors own 89.42% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Piper Sandler decreased their price objective on Illumina from $195.00 to $185.00 and set an "overweight" rating for the company in a research note on Monday. TD Cowen boosted their target price on Illumina from $166.00 to $177.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Scotiabank decreased their target price on Illumina from $176.00 to $164.00 and set a "sector outperform" rating for the company in a research note on Thursday, August 15th. Hsbc Global Res raised Illumina from a "hold" rating to a "strong-buy" rating and set a $180.00 target price for the company in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. upped their price objective on Illumina from $125.00 to $140.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $164.00.

Illumina Price Performance

NASDAQ:ILMN traded down $2.67 during trading hours on Tuesday, reaching $148.83. 643,771 shares of the company were exchanged, compared to its average volume of 2,000,447. The company has a market capitalization of $23.60 billion, a P/E ratio of -15.21 and a beta of 1.13. Illumina, Inc. has a 1-year low of $92.26 and a 1-year high of $156.66. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 0.86. The business has a 50 day moving average of $138.50 and a 200 day moving average of $123.77.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the business posted $0.33 EPS. The company's revenue was down 3.5% compared to the same quarter last year. Research analysts forecast that Illumina, Inc. will post 4.11 EPS for the current year.

Illumina Company 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.