KLP Kapitalforvaltning AS Buys New Stake in Illumina, Inc. (NASDAQ:ILMN)

KLP Kapitalforvaltning AS bought a new stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 60,245 shares of the life sciences company's stock, valued at approximately $8,051,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ILMN. Empowered Funds LLC boosted its stake in Illumina by 1.7% during the third quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company's stock worth $516,000 after acquiring an additional 66 shares in the last quarter. Bank of Stockton lifted its holdings in shares of Illumina by 3.8% during the fourth quarter. Bank of Stockton now owns 2,162 shares of the life sciences company's stock valued at $289,000 after purchasing an additional 80 shares during the last quarter. Stephens Inc. AR boosted its position in shares of Illumina by 1.4% in the 4th quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company's stock worth $885,000 after purchasing an additional 90 shares in the last quarter. Spire Wealth Management grew its stake in shares of Illumina by 26.0% in the 4th quarter. Spire Wealth Management now owns 470 shares of the life sciences company's stock worth $63,000 after buying an additional 97 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in shares of Illumina by 19.1% in the 4th quarter. IFP Advisors Inc now owns 617 shares of the life sciences company's stock worth $82,000 after buying an additional 99 shares during the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several research firms have commented on ILMN. Stephens reissued an "overweight" rating and issued a $156.00 target price on shares of Illumina in a report on Tuesday, March 11th. HSBC lowered Illumina from a "buy" rating to a "hold" rating and set a $100.00 target price for the company. in a research report on Friday, February 28th. Morgan Stanley decreased their target price on shares of Illumina from $150.00 to $136.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 11th. TD Cowen lowered Illumina from a "buy" rating to a "hold" rating and cut their price objective for the stock from $177.00 to $140.00 in a report on Friday, February 7th. Finally, Citigroup reduced their price objective on Illumina from $130.00 to $90.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $140.90.

Illumina Price Performance

NASDAQ ILMN traded down $2.28 during trading hours on Friday, reaching $80.00. The company's stock had a trading volume of 1,526,373 shares, compared to its average volume of 2,212,008. Illumina, Inc. has a 1 year low of $79.32 and a 1 year high of $156.66. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $12.67 billion, a price-to-earnings ratio of -10.42, a PEG ratio of 1.60 and a beta of 1.17. The firm's 50-day moving average price is $102.80 and its 200-day moving average price is $126.79.

Illumina (NASDAQ:ILMN - Get Free Report) last released its earnings results on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. On average, equities research analysts predict that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

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.