Illumina, Inc. (ILMN) Position Reduced by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 7.2% during the first quarter, HoldingsChannel.com reports. The fund owned 21,694 shares of the life sciences company’s stock after selling 1,672 shares during the quarter. State of Alaska Department of Revenue’s holdings in Illumina were worth $6,738,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Private Asset Management Inc. increased its position in Illumina by 9.5% in the first quarter. Private Asset Management Inc. now owns 16,514 shares of the life sciences company’s stock worth $5,131,000 after buying an additional 1,427 shares during the last quarter. Tirschwell & Loewy Inc. grew its position in shares of Illumina by 94.7% in the first quarter. Tirschwell & Loewy Inc. now owns 23,530 shares of the life sciences company’s stock valued at $7,311,000 after purchasing an additional 11,445 shares in the last quarter. Spence Asset Management grew its position in shares of Illumina by 9.8% in the first quarter. Spence Asset Management now owns 15,483 shares of the life sciences company’s stock valued at $4,810,000 after purchasing an additional 1,384 shares in the last quarter. Bath Savings Trust Co purchased a new position in shares of Illumina in the first quarter valued at $232,000. Finally, Machina Capital S.A.S. purchased a new position in shares of Illumina in the fourth quarter valued at $1,099,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

Illumina stock opened at $324.86 on Thursday. Illumina, Inc. has a 52 week low of $226.62 and a 52 week high of $372.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.49 and a quick ratio of 2.27. The stock has a market cap of $47.73 billion, a P/E ratio of 56.79, a price-to-earnings-growth ratio of 2.26 and a beta of 1.17.

Illumina (NASDAQ:ILMN) last posted its earnings results on Tuesday, January 29th. The life sciences company reported $1.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by ($0.04). Illumina had a return on equity of 24.51% and a net margin of 24.79%. The business had revenue of $867.00 million for the quarter, compared to analysts’ expectations of $865.33 million. During the same quarter in the previous year, the firm earned $1.44 earnings per share. Illumina’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts predict that Illumina, Inc. will post 6.53 earnings per share for the current fiscal year.

In other Illumina news, SVP Charles Dadswell sold 124 shares of Illumina stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $280.11, for a total transaction of $34,733.64. Following the completion of the sale, the senior vice president now owns 6,879 shares of the company’s stock, valued at $1,926,876.69. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Francis A. Desouza sold 3,000 shares of Illumina stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $316.51, for a total value of $949,530.00. Following the sale, the insider now directly owns 79,346 shares of the company’s stock, valued at approximately $25,113,802.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,526 shares of company stock valued at $9,558,427. 0.54% of the stock is owned by company insiders.

Several brokerages have recently weighed in on ILMN. Zacks Investment Research upgraded Illumina from a “hold” rating to a “buy” rating and set a $355.00 price target for the company in a research report on Tuesday, April 2nd. OTR Global cut Illumina to a “positive” rating in a research report on Tuesday, April 2nd. BidaskClub cut Illumina from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. Bank of America reiterated a “buy” rating and issued a $355.00 price target on shares of Illumina in a research report on Wednesday, January 30th. Finally, Deutsche Bank cut Illumina from a “buy” rating to a “hold” rating and set a $296.53 price target for the company. in a research report on Friday, January 25th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $346.97.

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About Illumina

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 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 enables 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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