AdvisorNet Financial Inc Sells 1,392 Shares of Illumina, Inc. (NASDAQ:ILMN)

AdvisorNet Financial Inc lowered its stake in Illumina, Inc. (NASDAQ:ILMNGet Rating) by 49.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,396 shares of the life sciences company’s stock after selling 1,392 shares during the quarter. AdvisorNet Financial Inc’s holdings in Illumina were worth $257,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in ILMN. Equitable Holdings Inc. bought a new position in Illumina in the 4th quarter worth about $223,000. MAI Capital Management boosted its stake in Illumina by 68.3% in the 4th quarter. MAI Capital Management now owns 986 shares of the life sciences company’s stock worth $375,000 after purchasing an additional 400 shares during the period. Alberta Investment Management Corp bought a new position in Illumina in the 4th quarter worth about $9,919,000. KRS Capital Management LLC bought a new position in Illumina in the 4th quarter worth about $144,000. Finally, American International Group Inc. raised its holdings in shares of Illumina by 5.1% in the 4th quarter. American International Group Inc. now owns 60,146 shares of the life sciences company’s stock valued at $22,882,000 after acquiring an additional 2,903 shares in the last quarter. Institutional investors own 86.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Piper Sandler lowered their price target on Illumina from $360.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, August 12th. Stifel Nicolaus lowered their price target on Illumina from $480.00 to $300.00 and set a “buy” rating on the stock in a report on Friday, August 12th. Credit Suisse Group assumed coverage on Illumina in a report on Wednesday, August 24th. They issued a “neutral” rating and a $230.00 price target on the stock. UBS Group lowered their price target on Illumina from $350.00 to $245.00 and set a “neutral” rating on the stock in a report on Wednesday, August 17th. Finally, Cowen lowered their price target on Illumina to $327.00 in a report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $257.27.

Insider Buying and Selling

In related news, SVP Alexander Aravanis sold 539 shares of the firm’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $200.00, for a total transaction of $107,800.00. Following the transaction, the senior vice president now directly owns 3,346 shares in the company, valued at approximately $669,200. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by corporate insiders.

Illumina Price Performance

ILMN opened at $198.81 on Tuesday. The stock’s 50 day simple moving average is $206.02 and its 200 day simple moving average is $250.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.00 and a quick ratio of 0.82. Illumina, Inc. has a 1 year low of $173.45 and a 1 year high of $449.99. The firm has a market cap of $31.23 billion, a price-to-earnings ratio of -3,312.95, a PEG ratio of 2.29 and a beta of 1.16.

Illumina (NASDAQ:ILMNGet Rating) last posted its quarterly earnings results on Thursday, August 11th. The life sciences company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.06). Illumina had a positive return on equity of 5.61% and a negative net margin of 0.43%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the business earned $1.87 earnings per share. Illumina’s revenue was up 3.2% compared to the same quarter last year. As a group, analysts predict that Illumina, Inc. will post 2.81 earnings per share for the current year.

Illumina Company Profile

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Illumina, Inc provides sequencing and array-based solutions for genetic and genomic analysis. Its products and services serve customers in a range of markets enabling the adoption of genomic solutions in research and clinical settings for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments.

Further Reading

Institutional Ownership by Quarter for Illumina (NASDAQ:ILMN)

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