Illumina (NASDAQ:ILMN) Hits New 52-Week Low – Should You Sell?

Illumina, Inc. (NASDAQ:ILMN) shares reached a new 52-week low on Thursday . The company traded as low as $76.63 and last traded at $77.53, with a volume of 589920 shares changing hands. The stock had previously closed at $81.88.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ILMN. Hsbc Global Res lowered shares of Illumina from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Barclays reiterated an “underweight” rating on shares of Illumina in a research report on Tuesday, March 11th. TD Cowen cut Illumina from a “buy” rating to a “hold” rating and cut their price objective for the company from $177.00 to $140.00 in a research report on Friday, February 7th. Morgan Stanley decreased their target price on Illumina from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Finally, Citigroup cut their price target on shares of Illumina from $130.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $140.90.

Illumina Trading Down 3.0 %

The company has a market capitalization of $11.75 billion, a PE ratio of -9.66, a PEG ratio of 1.60 and a beta of 1.38. The company has a fifty day simple moving average of $96.82 and a 200-day simple moving average of $125.10. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. Analysts predict that Illumina, Inc. will post 4.51 EPS for the current year.

Institutional Investors Weigh In On Illumina

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bleakley Financial Group LLC acquired a new stake in shares of Illumina during the 4th quarter worth about $751,000. Zacks Investment Management acquired a new stake in shares of Illumina during the third quarter valued at about $2,924,000. Van ECK Associates Corp raised its stake in shares of Illumina by 17.5% in the 4th quarter. Van ECK Associates Corp now owns 152,265 shares of the life sciences company’s stock valued at $20,347,000 after acquiring an additional 22,718 shares during the period. Strategic Financial Concepts LLC purchased a new stake in shares of Illumina in the 4th quarter valued at approximately $1,464,000. Finally, Allworth Financial LP boosted its position in shares of Illumina by 720.7% during the 4th quarter. Allworth Financial LP now owns 7,132 shares of the life sciences company’s stock worth $1,001,000 after purchasing an additional 6,263 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

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.