Clear Harbor Asset Management LLC Decreases Position in Illumina, Inc. (NASDAQ:ILMN)

Clear Harbor Asset Management LLC trimmed its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,787 shares of the life sciences company’s stock after selling 458 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Illumina were worth $1,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ILMN. Empowered Funds LLC grew its stake in shares of Illumina by 1.7% during the third quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company’s stock worth $516,000 after acquiring an additional 66 shares during the last quarter. Caprock Group LLC grew its position in Illumina by 3.0% during the 3rd quarter. Caprock Group LLC now owns 2,884 shares of the life sciences company’s stock worth $376,000 after purchasing an additional 83 shares during the last quarter. Integrated Advisors Network LLC increased its stake in Illumina by 2.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 4,484 shares of the life sciences company’s stock valued at $585,000 after purchasing an additional 90 shares in the last quarter. Moors & Cabot Inc. raised its holdings in shares of Illumina by 1.7% in the third quarter. Moors & Cabot Inc. now owns 5,818 shares of the life sciences company’s stock worth $759,000 after buying an additional 95 shares during the last quarter. Finally, Carson Advisory Inc. lifted its stake in shares of Illumina by 3.8% during the third quarter. Carson Advisory Inc. now owns 2,757 shares of the life sciences company’s stock worth $360,000 after buying an additional 102 shares during the period. 89.42% of the stock is owned by institutional investors and hedge funds.

Illumina Price Performance

Shares of NASDAQ ILMN opened at $141.31 on Wednesday. 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 firm has a fifty day moving average of $139.30 and a 200 day moving average of $133.99. The firm has a market cap of $22.41 billion, a PE ratio of -14.19 and a beta of 1.11. Illumina, Inc. has a one year low of $100.08 and a one year high of $156.66.

Illumina (NASDAQ:ILMN) last released its earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. As a group, research analysts predict that Illumina, Inc. will post 4.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ILMN has been the topic of several research reports. Robert W. Baird upped their target price on Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. increased their price objective on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Piper Sandler decreased their target price on Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, November 11th. UBS Group increased their price target on shares of Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, HSBC raised shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Thursday, October 17th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $165.63.

Illumina Company Profile

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.