Illumina (NASDAQ:ILMN) Sets New 1-Year Low – Here’s Why

Illumina, Inc. (NASDAQ:ILMN)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $86.70 and last traded at $87.83, with a volume of 307015 shares trading hands. The stock had previously closed at $88.74.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ILMN. Piper Sandler increased their target price on shares of Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. JPMorgan Chase & Co. increased their price objective on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Guggenheim decreased their target price on shares of Illumina from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Canaccord Genuity Group dropped their price target on Illumina from $145.00 to $135.00 and set a “hold” rating for the company in a research note on Friday, February 7th. Finally, TD Cowen lowered Illumina from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $177.00 to $140.00 in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.25.

Illumina Stock Up 0.9 %

The stock has a market cap of $13.57 billion, a price-to-earnings ratio of -11.16, a PEG ratio of 1.60 and a beta of 1.17. The stock has a 50 day simple moving average of $121.35 and a 200 day simple moving average of $132.49. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. As a group, analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Illumina

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Capital World Investors boosted its stake in Illumina by 408.6% during the 4th quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company’s stock valued at $2,408,721,000 after purchasing an additional 14,481,232 shares during the last quarter. WCM Investment Management LLC lifted its holdings 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 valued at $551,625,000 after purchasing an additional 867,673 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Illumina by 0.8% during the fourth 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 during the last quarter. Geode Capital Management LLC grew its holdings in Illumina by 1.8% during 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 buying an additional 48,018 shares in the last quarter. Finally, Primecap Management Co. CA raised its position in Illumina by 3.6% in the 3rd quarter. Primecap Management Co. CA now owns 2,516,359 shares of the life sciences company’s stock valued at $328,158,000 after buying an additional 87,599 shares during the last quarter. 89.42% of the stock is owned by institutional investors.

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.