Korea Investment CORP Acquires 34,000 Shares of Illumina, Inc. (NASDAQ:ILMN)

Korea Investment CORP raised its position in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 92.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,588 shares of the life sciences company's stock after buying an additional 34,000 shares during the quarter. Korea Investment CORP's holdings in Illumina were worth $9,433,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its stake in Illumina by 127.3% in the 3rd quarter. FMR LLC now owns 767,294 shares of the life sciences company's stock worth $100,063,000 after acquiring an additional 429,723 shares during the last quarter. Townsquare Capital LLC increased its position in shares of Illumina by 28.1% in the third quarter. Townsquare Capital LLC now owns 13,109 shares of the life sciences company's stock worth $1,710,000 after purchasing an additional 2,872 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Illumina by 1.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 76,579 shares of the life sciences company's stock valued at $9,987,000 after purchasing an additional 1,433 shares in the last quarter. Captrust Financial Advisors lifted its position in Illumina by 6.5% during the third quarter. Captrust Financial Advisors now owns 8,576 shares of the life sciences company's stock valued at $1,118,000 after purchasing an additional 524 shares during the last quarter. Finally, Fred Alger Management LLC purchased a new position in Illumina in the 3rd quarter worth approximately $1,121,000. Hedge funds and other institutional investors own 89.42% of the company's stock.

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Analyst Ratings Changes

Several research firms have recently weighed in on ILMN. Royal Bank of Canada lowered their price objective on shares of Illumina from $247.00 to $128.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 12th. HSBC downgraded Illumina from a "buy" rating to a "hold" rating and set a $100.00 price target on the stock. in a research report on Friday, February 28th. Robert W. Baird cut their price objective on Illumina from $127.00 to $90.00 and set a "neutral" rating for the company in a report on Wednesday, March 5th. Hsbc Global Res cut Illumina from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, Barclays reaffirmed an "underweight" rating on shares of Illumina in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Illumina presently has an average rating of "Moderate Buy" and an average target price of $140.90.

Illumina Trading Down 3.0 %

ILMN traded down $2.26 during midday trading on Friday, reaching $74.16. 3,912,056 shares of the company's stock traded hands, compared to its average volume of 2,222,582. Illumina, Inc. has a 52 week low of $70.64 and a 52 week high of $156.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. The firm has a fifty day moving average of $96.82 and a two-hundred day moving average of $125.06. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of -9.66, a P/E/G ratio of 1.60 and a beta of 1.38.

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