Massar Capital Management LP Invests $8.03 Million in Illumina, Inc. (NASDAQ:ILMN)

Massar Capital Management LP purchased a new position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 60,053 shares of the life sciences company's stock, valued at approximately $8,025,000. Illumina comprises 9.1% of Massar Capital Management LP's holdings, making the stock its 2nd biggest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. M&T Bank Corp lifted its position in Illumina by 3.4% during the third quarter. M&T Bank Corp now owns 54,378 shares of the life sciences company's stock worth $7,091,000 after acquiring an additional 1,769 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Illumina during the 3rd quarter worth approximately $772,000. Tidal Investments LLC boosted its stake in Illumina by 38.0% in the 3rd quarter. Tidal Investments LLC now owns 4,449 shares of the life sciences company's stock valued at $580,000 after purchasing an additional 1,226 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in Illumina by 66.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 11,973 shares of the life sciences company's stock valued at $1,582,000 after buying an additional 4,797 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in Illumina by 153.7% during the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company's stock worth $32,000 after buying an additional 146 shares during the period. Institutional investors own 89.42% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on ILMN shares. Royal Bank of Canada lowered their price target on shares of Illumina from $128.00 to $112.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Piper Sandler lifted their price target on shares of Illumina from $185.00 to $190.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Robert W. Baird lowered their price objective on Illumina from $127.00 to $90.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 5th. Canaccord Genuity Group cut their target price on Illumina from $135.00 to $115.00 and set a "hold" rating for the company in a research report on Tuesday, March 11th. Finally, Morgan Stanley decreased their price target on Illumina from $150.00 to $136.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $138.70.

Illumina Trading Down 0.3 %

Shares of Illumina stock traded down $0.26 on Friday, hitting $77.35. The stock had a trading volume of 1,424,483 shares, compared to its average volume of 2,280,770. The stock has a 50 day moving average of $82.02 and a 200 day moving average of $118.20. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. Illumina, Inc. has a twelve month low of $68.70 and a twelve month high of $156.66. The firm has a market capitalization of $12.24 billion, a P/E ratio of -10.07, a PEG ratio of 1.60 and a beta of 1.38.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. Sell-side analysts expect 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.