Victory Capital Management Inc. Raises Stake in Illumina, Inc. (NASDAQ:ILMN)

Victory Capital Management Inc. lifted its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 5.9% during the 2nd quarter, Holdings Channel reports. The fund owned 134,094 shares of the life sciences company’s stock after buying an additional 7,527 shares during the quarter. Victory Capital Management Inc.’s holdings in Illumina were worth $13,997,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ILMN. Gryphon Financial Partners LLC increased its holdings in shares of Illumina by 22.1% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,807 shares of the life sciences company’s stock worth $252,000 after buying an additional 327 shares during the last quarter. Principal Securities Inc. purchased a new stake in Illumina in the 4th quarter valued at about $51,000. QRG Capital Management Inc. lifted its position in Illumina by 62.9% in the fourth quarter. QRG Capital Management Inc. now owns 5,481 shares of the life sciences company’s stock valued at $763,000 after buying an additional 2,117 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Illumina by 6.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 165,193 shares of the life sciences company’s stock worth $21,531,000 after buying an additional 9,609 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Illumina by 31.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 9,602 shares of the life sciences company’s stock valued at $1,337,000 after acquiring an additional 2,308 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Price Performance

Shares of NASDAQ:ILMN opened at $129.18 on Friday. Illumina, Inc. has a 52 week low of $89.00 and a 52 week high of $152.87. The company has a 50-day moving average price of $123.36 and a 200 day moving average price of $120.96. The company has a market cap of $20.58 billion, a P/E ratio of -15.85 and a beta of 1.15. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 1.04.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. Illumina’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 earnings per share. Research analysts predict that Illumina, Inc. will post 3.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $242.00 price objective on shares of Illumina in a research report on Wednesday, August 14th. Argus upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Wednesday, August 28th. StockNews.com assumed coverage on shares of Illumina in a report on Thursday, August 29th. They set a “buy” rating on the stock. Scotiabank dropped their price target on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 15th. Finally, Citigroup boosted their target price on Illumina from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $151.05.

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.