Illumina, Inc. (NASDAQ:ILMN) Short Interest Update

Illumina, Inc. (NASDAQ:ILMN) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 4,880,000 shares, an increase of 9.2% from the August 31st total of 4,470,000 shares. Based on an average daily trading volume, of 1,820,000 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ILMN. Trivant Custom Portfolio Group LLC lifted its stake in Illumina by 166.7% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock worth $27,000 after acquiring an additional 125 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Illumina by 86.8% during the first quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock worth $39,000 after purchasing an additional 132 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in shares of Illumina in the second quarter valued at approximately $34,000. Versant Capital Management Inc grew its holdings in shares of Illumina by 292.9% in the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after purchasing an additional 246 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of Illumina in the fourth quarter valued at approximately $56,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ILMN has been the subject of several recent analyst reports. Daiwa America raised shares of Illumina to a “strong-buy” rating in a report on Friday, August 16th. Scotiabank lowered their price objective on Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. Robert W. Baird boosted their price objective on Illumina from $119.00 to $124.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. StockNews.com assumed coverage on Illumina in a research report on Thursday, August 29th. They issued a “buy” rating on the stock. Finally, Stephens reaffirmed an “overweight” rating and issued a $170.00 price target on shares of Illumina in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $152.05.

Illumina Stock Performance

NASDAQ ILMN opened at $130.41 on Tuesday. The stock has a fifty day simple moving average of $126.61 and a 200-day simple moving average of $120.28. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04. The stock has a market cap of $20.77 billion, a PE ratio of -16.00 and a beta of 1.15. Illumina has a twelve month low of $89.00 and a twelve month high of $148.19.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.24. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the business earned $0.32 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities analysts anticipate that Illumina will post 3.63 earnings per share for the current year.

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.