QRG Capital Management Inc. Buys 3,257 Shares of Illumina, Inc. $ILMN

QRG Capital Management Inc. boosted its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 77.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,450 shares of the life sciences company’s stock after acquiring an additional 3,257 shares during the period. QRG Capital Management Inc.’s holdings in Illumina were worth $711,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ILMN. Rise Advisors LLC boosted its holdings in shares of Illumina by 173.6% in the 1st quarter. Rise Advisors LLC now owns 353 shares of the life sciences company’s stock valued at $28,000 after purchasing an additional 224 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in shares of Illumina by 290.3% in the 1st quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company’s stock valued at $29,000 after purchasing an additional 270 shares in the last quarter. Center for Financial Planning Inc. acquired a new stake in shares of Illumina in the 1st quarter valued at $33,000. Golden State Wealth Management LLC boosted its holdings in shares of Illumina by 123.2% in the 1st quarter. Golden State Wealth Management LLC now owns 529 shares of the life sciences company’s stock valued at $42,000 after purchasing an additional 292 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Illumina by 2,936.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 577 shares of the life sciences company’s stock valued at $46,000 after purchasing an additional 558 shares in the last quarter. Institutional investors own 89.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Daiwa America downgraded Illumina from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 12th. Evercore ISI cut their price objective on Illumina from $135.00 to $132.00 and set an “outperform” rating on the stock in a report on Tuesday. Robert W. Baird raised their price objective on Illumina from $84.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Daiwa Capital Markets downgraded Illumina from an “outperform” rating to a “neutral” rating and set a $94.00 price objective on the stock. in a report on Tuesday, August 12th. Finally, Wall Street Zen downgraded Illumina from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Illumina presently has a consensus rating of “Hold” and a consensus price target of $123.56.

Illumina Stock Down 1.4%

Shares of NASDAQ:ILMN opened at $96.45 on Friday. The firm has a market cap of $14.82 billion, a P/E ratio of 12.21, a P/E/G ratio of 2.36 and a beta of 1.40. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.66. Illumina, Inc. has a 12-month low of $68.70 and a 12-month high of $156.66. The business has a fifty day simple moving average of $98.35 and a 200 day simple moving average of $90.17.

Illumina (NASDAQ:ILMN) last announced its earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.17. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.12 billion. Illumina had a return on equity of 28.93% and a net margin of 29.36%.Illumina’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period last year, the company earned $0.36 EPS. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. Analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current 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.