Empowered Funds LLC Makes New $3.02 Million Investment in Illumina, Inc. $ILMN

Empowered Funds LLC bought a new stake in shares of Illumina, Inc. (NASDAQ:ILMN) in the second quarter, HoldingsChannel reports. The institutional investor bought 17,191 shares of the life sciences company’s stock, valued at approximately $3,023,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Sivia Capital Partners LLC bought a new position in shares of Illumina during the 2nd quarter worth $621,000. CW Advisors LLC purchased a new position in shares of Illumina during the second quarter valued at $275,000. Marshall Wace LLP raised its holdings in shares of Illumina by 49.0% in the second quarter. Marshall Wace LLP now owns 59,645 shares of the life sciences company’s stock valued at $5,691,000 after acquiring an additional 19,618 shares in the last quarter. Cresset Asset Management LLC raised its holdings in shares of Illumina by 30.9% in the second quarter. Cresset Asset Management LLC now owns 7,404 shares of the life sciences company’s stock valued at $706,000 after acquiring an additional 1,748 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Illumina by 1,160.4% in the second quarter. NewEdge Advisors LLC now owns 2,735 shares of the life sciences company’s stock worth $261,000 after acquiring an additional 2,518 shares during the period. 89.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

ILMN has been the topic of several recent research reports. Zacks Research upgraded shares of Illumina from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Piper Sandler restated an “overweight” rating and issued a $225.00 price target (up from $200.00) on shares of Illumina in a report on Monday, August 3rd. Guggenheim boosted their price target on shares of Illumina from $200.00 to $226.00 and gave the company a “buy” rating in a report on Friday, July 31st. Barclays upped their price target on shares of Illumina from $145.00 to $160.00 and gave the stock an “underweight” rating in a research report on Friday, July 31st. Finally, Canaccord Genuity Group increased their price objective on shares of Illumina from $190.00 to $205.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $188.40.

Insider Activity

In related news, SVP Christensen Jakob Wedel sold 1,033 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $191.52, for a total value of $197,840.16. Following the transaction, the senior vice president directly owned 14,023 shares of the company’s stock, valued at $2,685,684.96. This represents a 6.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith A. Meister sold 138,379 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $228.89, for a total value of $31,673,569.31. Following the completion of the transaction, the director directly owned 1,033,910 shares in the company, valued at $236,651,659.90. This represents a 11.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,799,688 shares of company stock valued at $379,517,231 over the last ninety days. 2.90% of the stock is currently owned by insiders.

Illumina Trading Up 3.0%

Shares of NASDAQ:ILMN opened at $213.25 on Thursday. The business’s 50-day moving average is $196.70 and its 200 day moving average is $157.87. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.80 and a quick ratio of 1.40. Illumina, Inc. has a 1 year low of $88.00 and a 1 year high of $231.81. The firm has a market capitalization of $32.20 billion, a P/E ratio of 39.79, a P/E/G ratio of 2.93 and a beta of 1.46.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, July 30th. The life sciences company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.08. Illumina had a return on equity of 29.84% and a net margin of 18.36%.The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the company earned $1.19 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. On average, research analysts predict that Illumina, Inc. will post 5.36 earnings per share for the current fiscal year.

Illumina Company Profile

Illumina, Inc (NASDAQ: ILMN) is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company’s product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.