Illumina, Inc. (ILMN) Stake Increased by Somerville Kurt F

Somerville Kurt F raised its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,781 shares of the life sciences company’s stock after buying an additional 450 shares during the period. Somerville Kurt F’s holdings in Illumina were worth $4,645,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Clear Harbor Asset Management LLC raised its stake in Illumina by 2.7% in the second quarter. Clear Harbor Asset Management LLC now owns 3,864 shares of the life sciences company’s stock valued at $669,000 after buying an additional 100 shares during the last quarter. Wellington Shields Capital Management LLC raised its stake in Illumina by 40.6% in the second quarter. Wellington Shields Capital Management LLC now owns 18,117 shares of the life sciences company’s stock valued at $3,144,000 after buying an additional 5,228 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Illumina by 22.2% in the second quarter. Russell Investments Group Ltd. now owns 153,983 shares of the life sciences company’s stock valued at $26,720,000 after buying an additional 27,986 shares during the last quarter. First Citizens Bank & Trust Co. raised its stake in Illumina by 0.4% in the second quarter. First Citizens Bank & Trust Co. now owns 3,088 shares of the life sciences company’s stock valued at $536,000 after buying an additional 12 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. acquired a new stake in Illumina during the second quarter valued at $2,811,000. Hedge funds and other institutional investors own 93.81% of the company’s stock.

Shares of Illumina, Inc. (NASDAQ:ILMN) opened at 194.47 on Monday. The firm has a market capitalization of $28.39 billion, a P/E ratio of 39.02 and a beta of 0.83. Illumina, Inc. has a one year low of $119.37 and a one year high of $198.55. The firm has a 50-day moving average of $174.66 and a 200-day moving average of $171.89.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Tuesday, August 1st. The life sciences company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.14. The firm had revenue of $662 million during the quarter, compared to analyst estimates of $642.38 million. Illumina had a return on equity of 19.69% and a net margin of 30.27%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share. On average, equities analysts predict that Illumina, Inc. will post $3.65 earnings per share for the current fiscal year.

Several research firms have weighed in on ILMN. Canaccord Genuity upgraded shares of Illumina from a “hold” rating to a “buy” rating and boosted their target price for the company from $170.00 to $215.00 in a research note on Monday. BidaskClub upgraded shares of Illumina from a “sell” rating to a “hold” rating in a research report on Monday. Zacks Investment Research lowered shares of Illumina from a “buy” rating to a “hold” rating in a research report on Friday. Vetr lowered shares of Illumina from a “strong-buy” rating to a “hold” rating and set a $202.18 price target for the company. in a research report on Wednesday, August 2nd. Finally, Cowen and Company restated an “outperform” rating and set a $200.00 price target on shares of Illumina in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $176.63.

In related news, SVP Charles Dadswell sold 145 shares of Illumina stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $184.75, for a total value of $26,788.75. Following the sale, the senior vice president now owns 10,791 shares of the company’s stock, valued at approximately $1,993,637.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mostafa Ronaghi sold 10,000 shares of Illumina stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $195.00, for a total value of $1,950,000.00. Following the completion of the sale, the senior vice president now directly owns 76,585 shares in the company, valued at approximately $14,934,075. The disclosure for this sale can be found here. Over the last quarter, insiders sold 156,770 shares of company stock valued at $28,069,728. Corporate insiders own 1.60% of the company’s stock.

About Illumina

Illumina, Inc (Illumina) is a provider of sequencing- and array-based solutions for genetic analysis. The Company operates through two segments: Core Illumina and the consolidated variable interest entities (VIEs), which include the activities of GRAIL, Inc (GRAIL) and Helix Holdings I, LLC (Helix). Core Illumina consists of its core operations.