Comerica Bank Trims Stake in Illumina, Inc. (ILMN)

Comerica Bank cut its position in Illumina, Inc. (NASDAQ:ILMN) by 21.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 32,415 shares of the life sciences company’s stock after selling 8,691 shares during the quarter. Comerica Bank’s holdings in Illumina were worth $10,172,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Jennison Associates LLC boosted its stake in Illumina by 4.5% during the 2nd quarter. Jennison Associates LLC now owns 4,297,581 shares of the life sciences company’s stock valued at $1,200,271,000 after purchasing an additional 185,745 shares during the last quarter. Fred Alger Management Inc. boosted its stake in Illumina by 21.4% during the 2nd quarter. Fred Alger Management Inc. now owns 778,450 shares of the life sciences company’s stock valued at $217,413,000 after purchasing an additional 137,302 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Illumina by 5.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 604,615 shares of the life sciences company’s stock valued at $168,863,000 after purchasing an additional 31,985 shares during the last quarter. Millennium Management LLC boosted its stake in Illumina by 219.8% during the 2nd quarter. Millennium Management LLC now owns 548,957 shares of the life sciences company’s stock valued at $153,318,000 after purchasing an additional 377,283 shares during the last quarter. Finally, Federated Investors Inc. PA boosted its stake in Illumina by 4.1% during the 2nd quarter. Federated Investors Inc. PA now owns 512,611 shares of the life sciences company’s stock valued at $143,167,000 after purchasing an additional 20,324 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Shares of NASDAQ ILMN opened at $339.55 on Friday. Illumina, Inc. has a twelve month low of $203.83 and a twelve month high of $372.61. The company has a market capitalization of $47.44 billion, a PE ratio of 84.89, a price-to-earnings-growth ratio of 2.40 and a beta of 1.07. The company has a current ratio of 2.46, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24.

Illumina (NASDAQ:ILMN) last announced its earnings results on Tuesday, October 23rd. The life sciences company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.26. Illumina had a return on equity of 27.10% and a net margin of 21.09%. The firm had revenue of $853.00 million for the quarter, compared to the consensus estimate of $825.65 million. During the same quarter in the previous year, the business earned $1.11 EPS. The company’s revenue was up 19.5% compared to the same quarter last year. On average, analysts forecast that Illumina, Inc. will post 5.75 EPS for the current fiscal year.

ILMN has been the subject of a number of analyst reports. UBS Group initiated coverage on Illumina in a research note on Tuesday, October 9th. They set a “neutral” rating and a $340.00 price target for the company. Zacks Investment Research downgraded Illumina from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. Argus set a $372.00 price target on Illumina and gave the company a “buy” rating in a research note on Friday, August 10th. Piper Jaffray Companies lifted their price target on Illumina to $380.00 and gave the company an “overweight” rating in a research note on Tuesday, October 2nd. Finally, BidaskClub downgraded Illumina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 4th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $330.94.

In other news, Director Jay T. Flatley sold 3,300 shares of the business’s stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $310.58, for a total value of $1,024,914.00. Following the transaction, the director now owns 382,304 shares in the company, valued at approximately $118,735,976.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Mostafa Ronaghi sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $347.07, for a total value of $3,470,700.00. Following the completion of the transaction, the senior vice president now owns 80,805 shares in the company, valued at approximately $28,044,991.35. The disclosure for this sale can be found here. Insiders sold a total of 52,464 shares of company stock worth $17,546,651 in the last 90 days. Company insiders own 0.54% of the company’s stock.

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Illumina Company Profile

Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing by synthesis technology that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as allow the detection of known genetic markers on a single array.

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Institutional Ownership by Quarter for Illumina (NASDAQ:ILMN)

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