Icon Wealth Advisors LLC Buys 1,299 Shares of Illumina, Inc. (NASDAQ:ILMN)

Icon Wealth Advisors LLC increased its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 124.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,346 shares of the life sciences company’s stock after purchasing an additional 1,299 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Illumina were worth $306,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC raised its stake in shares of Illumina by 91.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,199 shares of the life sciences company’s stock valued at $577,000 after acquiring an additional 2,009 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Illumina by 154.9% during the first quarter. Canada Pension Plan Investment Board now owns 279,351 shares of the life sciences company’s stock valued at $38,360,000 after buying an additional 169,756 shares during the period. SVB Wealth LLC grew its stake in shares of Illumina by 6.8% during the first quarter. SVB Wealth LLC now owns 3,277 shares of the life sciences company’s stock valued at $450,000 after buying an additional 209 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Illumina by 19.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 497,274 shares of the life sciences company’s stock worth $68,286,000 after buying an additional 81,378 shares during the period. Finally, Iron Triangle Partners LP lifted its stake in shares of Illumina by 50.3% during the 1st quarter. Iron Triangle Partners LP now owns 330,758 shares of the life sciences company’s stock worth $45,420,000 after acquiring an additional 110,758 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Wall Street Analyst Weigh In

ILMN has been the topic of several research analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $156.00 price objective on shares of Illumina in a research report on Tuesday, November 12th. Barclays upped their price target on shares of Illumina from $135.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Argus upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Wednesday, August 28th. TD Cowen upped their target price on shares of Illumina from $166.00 to $177.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Canaccord Genuity Group raised their target price on shares of Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Illumina has an average rating of “Moderate Buy” and a consensus target price of $164.00.

Illumina Price Performance

Shares of NASDAQ ILMN opened at $140.14 on Friday. Illumina, Inc. has a fifty-two week low of $93.51 and a fifty-two week high of $156.66. The company has a market cap of $22.23 billion, a PE ratio of -14.07 and a beta of 1.13. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. The business has a 50-day simple moving average of $140.61 and a two-hundred day simple moving average of $124.84.

Illumina (NASDAQ:ILMN) last released its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.26. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. Illumina’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 EPS. As a group, equities analysts expect that Illumina, Inc. will post 4.11 EPS 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.