Spectrum Asset Management Inc. NB CA Makes New $2.77 Million Investment in Illumina, Inc. $ILMN

Spectrum Asset Management Inc. NB CA acquired a new stake in Illumina, Inc. (NASDAQ:ILMN) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 22,436 shares of the life sciences company’s stock, valued at approximately $2,765,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC raised its position in Illumina by 31.0% in the 1st quarter. Venturi Wealth Management LLC now owns 3,229 shares of the life sciences company’s stock valued at $398,000 after purchasing an additional 764 shares in the last quarter. Sicart Associates LLC grew its position in shares of Illumina by 0.7% during the first quarter. Sicart Associates LLC now owns 82,792 shares of the life sciences company’s stock worth $10,205,000 after buying an additional 614 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Illumina during the first quarter worth about $5,460,000. RFG Advisory LLC increased its stake in shares of Illumina by 6.3% during the first quarter. RFG Advisory LLC now owns 6,547 shares of the life sciences company’s stock worth $807,000 after buying an additional 386 shares during the period. Finally, OP Asset Management Ltd purchased a new stake in shares of Illumina during the first quarter worth approximately $1,981,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Illumina

In other Illumina news, SVP Patricia Leckman sold 783 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $162.59, for a total value of $127,307.97. Following the transaction, the senior vice president directly owned 21,259 shares of the company’s stock, valued at approximately $3,456,500.81. The trade was a 3.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith A. Meister sold 235,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $163.63, for a total transaction of $38,453,050.00. Following the transaction, the director owned 2,830,452 shares of the company’s stock, valued at approximately $463,146,860.76. The trade was a 7.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,003,769 shares of company stock worth $155,710,908 over the last quarter. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ILMN. JPMorgan Chase & Co. upgraded shares of Illumina from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $125.00 to $185.00 in a research note on Wednesday, June 10th. Royal Bank Of Canada started coverage on shares of Illumina in a research report on Thursday, May 14th. They issued an “outperform” rating and a $170.00 price objective on the stock. Guggenheim raised their price objective on shares of Illumina from $170.00 to $180.00 and gave the company a “buy” rating in a report on Monday, June 1st. Canaccord Genuity Group decreased their target price on Illumina from $150.00 to $140.00 and set a “hold” rating for the company in a research note on Friday, May 1st. Finally, Wall Street Zen cut shares of Illumina from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $146.00.

Illumina Stock Down 0.6%

ILMN opened at $176.55 on Friday. Illumina, Inc. has a 52 week low of $88.00 and a 52 week high of $182.84. The business has a 50 day moving average price of $149.62 and a two-hundred day moving average price of $137.66. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.56. The company has a market cap of $26.71 billion, a PE ratio of 32.10, a P/E/G ratio of 3.30 and a beta of 1.50.

Illumina (NASDAQ:ILMN) last announced its earnings results on Thursday, April 30th. The life sciences company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.10. Illumina had a return on equity of 31.01% and a net margin of 19.42%.The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the business posted $0.97 EPS. The company’s revenue was up 4.8% on a year-over-year basis. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. As a group, research analysts anticipate that Illumina, Inc. will post 5.21 EPS for the current year.

About Illumina

Illumina, Inc (NASDAQ: ILMN) is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company’s product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.