Korea Investment CORP Boosts Stake in Illumina, Inc. (NASDAQ:ILMN)

Korea Investment CORP raised its holdings in Illumina, Inc. (NASDAQ:ILMN) by 92.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,588 shares of the life sciences company’s stock after acquiring an additional 34,000 shares during the period. Korea Investment CORP’s holdings in Illumina were worth $9,433,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of ILMN. Versant Capital Management Inc raised its stake in Illumina by 153.7% in the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock valued at $32,000 after purchasing an additional 146 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Illumina during the 4th quarter valued at $32,000. Assetmark Inc. grew its position in Illumina by 954.8% in the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock worth $44,000 after acquiring an additional 296 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in Illumina in the fourth quarter valued at $45,000. Finally, Lee Danner & Bass Inc. purchased a new stake in Illumina during the fourth quarter valued at about $48,000. Institutional investors own 89.42% of the company’s stock.

Illumina Stock Performance

Shares of ILMN opened at $79.34 on Tuesday. The company has a 50-day simple moving average of $101.65 and a two-hundred day simple moving average of $126.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. The firm has a market capitalization of $12.57 billion, a PE ratio of -10.33, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17. Illumina, Inc. has a one year low of $77.54 and a one year high of $156.66.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. TD Cowen cut Illumina from a “buy” rating to a “hold” rating and cut their price objective for the stock from $177.00 to $140.00 in a report on Friday, February 7th. Guggenheim decreased their price target 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. Barclays reaffirmed an “underweight” rating on shares of Illumina in a research note on Tuesday, March 11th. Robert W. Baird decreased their target price on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada reduced their price objective on Illumina from $247.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Illumina has an average rating of “Moderate Buy” and an average target price of $140.90.

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.