Los Angeles Capital Management LLC Boosts Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

Los Angeles Capital Management LLC boosted its position in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 1,062.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,917 shares of the life sciences company's stock after acquiring an additional 85,840 shares during the quarter. Los Angeles Capital Management LLC owned 0.06% of Illumina worth $12,248,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. raised 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 valued at $140,000 after purchasing an additional 88 shares during the last quarter. Integrated Advisors Network LLC increased its position in shares of Illumina by 2.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 4,484 shares of the life sciences company's stock worth $585,000 after purchasing an additional 90 shares in the last quarter. Carson Advisory Inc. boosted its holdings in shares of Illumina by 3.8% in the third quarter. Carson Advisory Inc. now owns 2,757 shares of the life sciences company's stock valued at $360,000 after buying an additional 102 shares during the period. Institute for Wealth Management LLC. boosted its stake in shares of Illumina by 4.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 2,728 shares of the life sciences company's stock valued at $285,000 after purchasing an additional 119 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Illumina by 65.1% during the 3rd 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 last quarter. Institutional investors and hedge funds own 89.42% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. TD Cowen raised their price target on Illumina from $166.00 to $177.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Morgan Stanley reiterated an "equal weight" rating and set a $156.00 price objective on shares of Illumina in a research report on Tuesday. HSBC raised shares of Illumina from a "hold" rating to a "buy" rating and set a $180.00 target price on the stock in a research note on Thursday, October 17th. Daiwa America raised Illumina to a "strong-buy" rating in a research note on Friday, August 16th. Finally, UBS Group raised their price objective on Illumina from $133.00 to $145.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $164.00.

Illumina Stock Performance

Shares of NASDAQ:ILMN traded down $2.37 during midday trading on Tuesday, hitting $149.13. The company had a trading volume of 858,036 shares, compared to its average volume of 2,001,595. The company has a market cap of $23.65 billion, a price-to-earnings ratio of -15.21 and a beta of 1.13. Illumina, Inc. has a 12-month low of $92.26 and a 12-month 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 company has a fifty day moving average of $138.50 and a two-hundred day moving average of $123.77.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.88 by $0.26. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The company's quarterly revenue was down 3.5% on a year-over-year basis. On average, equities research analysts expect that Illumina, Inc. will post 4.11 EPS for the current fiscal 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.