Illumina, Inc. (NASDAQ:ILMN) Short Interest Down 22.6% in January

Illumina, Inc. (NASDAQ:ILMN) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 5,040,000 shares, a decline of 22.6% from the December 31st total of 6,510,000 shares. Based on an average daily trading volume, of 2,000,000 shares, the short-interest ratio is presently 2.5 days.

Illumina Trading Down 0.2 %

Shares of NASDAQ:ILMN traded down $0.27 on Friday, hitting $132.74. The company had a trading volume of 1,254,492 shares, compared to its average volume of 1,542,572. The firm’s 50-day simple moving average is $138.82 and its two-hundred day simple moving average is $135.15. The firm has a market capitalization of $21.05 billion, a price-to-earnings ratio of -13.33 and a beta of 1.11. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. Illumina has a 1 year low of $100.08 and a 1 year high of $156.66.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.26. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 earnings per share. Equities analysts anticipate that Illumina will post 4.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC lifted its holdings in shares of Illumina by 390.9% during the second quarter. AQR Capital Management LLC now owns 75,561 shares of the life sciences company’s stock valued at $7,887,000 after purchasing an additional 60,168 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Illumina by 31.8% during the second quarter. The Manufacturers Life Insurance Company now owns 125,285 shares of the life sciences company’s stock valued at $13,077,000 after buying an additional 30,229 shares during the last quarter. Creative Planning boosted its holdings in Illumina by 3.4% in the second quarter. Creative Planning now owns 16,144 shares of the life sciences company’s stock worth $1,685,000 after acquiring an additional 525 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Illumina by 176.3% in the second quarter. B. Riley Wealth Advisors Inc. now owns 7,176 shares of the life sciences company’s stock worth $749,000 after acquiring an additional 4,579 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Illumina by 1.7% during the second quarter. Truist Financial Corp now owns 62,840 shares of the life sciences company’s stock valued at $6,559,000 after acquiring an additional 1,075 shares in the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ILMN. Morgan Stanley lowered their target price on Illumina from $156.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Canaccord Genuity Group raised their price target on Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Piper Sandler dropped their target price on Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Hsbc Global Res raised shares of Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price target on the stock in a research note on Thursday, October 17th. Finally, Barclays upped their price objective on shares of Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.63.

About Illumina

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.