Mengis Capital Management Inc. Purchases New Position in Illumina, Inc. (NASDAQ:ILMN)

Mengis Capital Management Inc. acquired a new position in Illumina, Inc. (NASDAQ:ILMN - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,362 shares of the life sciences company's stock, valued at approximately $1,221,000.

Other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its position in Illumina by 41.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 3,070 shares of the life sciences company's stock worth $422,000 after purchasing an additional 900 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Illumina by 26.9% in the first quarter. Empowered Funds LLC now owns 3,340 shares of the life sciences company's stock valued at $459,000 after acquiring an additional 708 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in Illumina during the first quarter worth $307,000. Sei Investments Co. boosted its position in Illumina by 309.3% in the first quarter. Sei Investments Co. now owns 71,143 shares of the life sciences company's stock worth $9,769,000 after purchasing an additional 53,761 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in Illumina by 25.4% in the 1st quarter. QRG Capital Management Inc. now owns 6,874 shares of the life sciences company's stock valued at $944,000 after purchasing an additional 1,393 shares during the period. Institutional investors own 89.42% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group boosted their price target on shares of Illumina from $130.00 to $145.00 and gave the stock a "hold" rating in a report on Tuesday, November 5th. Citigroup increased their target price on shares of Illumina from $155.00 to $190.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. UBS Group lifted their price target on shares of Illumina from $133.00 to $145.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. StockNews.com began coverage on Illumina in a report on Thursday, August 29th. They set a "buy" rating for the company. Finally, HSBC upgraded 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Illumina currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.00.

Illumina Price Performance

Shares of Illumina stock traded down $1.45 on Wednesday, hitting $146.17. 1,801,558 shares of the company traded hands, compared to its average volume of 2,006,417. Illumina, Inc. has a 12-month low of $92.69 and a 12-month high of $156.66. The firm's 50-day simple moving average is $138.84 and its 200 day simple moving average is $123.95. The company has a market cap of $23.18 billion, a P/E ratio of -14.68 and a beta of 1.13. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94.

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