First American Bank Sells 405 Shares of Illumina, Inc. (NASDAQ:ILMN)

First American Bank lessened its position in Illumina, Inc. (NASDAQ:ILMN) by 8.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,403 shares of the life sciences company’s stock after selling 405 shares during the quarter. First American Bank’s holdings in Illumina were worth $588,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. WCM Investment Management LLC raised its stake in shares of Illumina by 26.6% in the fourth quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company’s stock worth $551,625,000 after purchasing an additional 867,673 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Illumina by 0.8% during the 4th quarter. Bank of New York Mellon Corp now owns 3,402,057 shares of the life sciences company’s stock valued at $454,617,000 after buying an additional 27,618 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Illumina by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,727,827 shares of the life sciences company’s stock worth $354,933,000 after purchasing an additional 48,018 shares during the period. Primecap Management Co. CA raised its holdings in Illumina by 3.6% during the third quarter. Primecap Management Co. CA now owns 2,516,359 shares of the life sciences company’s stock valued at $328,158,000 after acquiring an additional 87,599 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Illumina by 40.5% in the 3rd quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company’s stock worth $282,735,000 after purchasing an additional 625,245 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Wall Street Analysts Forecast Growth

ILMN has been the subject of a number of research reports. Robert W. Baird increased their price target on Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Barclays downgraded Illumina from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $130.00 to $100.00 in a report on Monday, February 10th. Piper Sandler raised their price objective on Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Guggenheim dropped their target price on Illumina from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Finally, Stephens increased their target price on Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $159.45.

Illumina Stock Performance

Shares of ILMN opened at $88.97 on Friday. Illumina, Inc. has a 12 month low of $88.75 and a 12 month high of $156.66. The company’s fifty day moving average is $124.32 and its 200-day moving average is $133.21. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. The firm has a market cap of $14.09 billion, a price-to-earnings ratio of -11.58, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10.

Illumina (NASDAQ:ILMN) last posted 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 positive return on equity of 13.37% and a negative net margin of 27.95%. Equities analysts expect that Illumina, Inc. will post 4.51 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.