Arohi Asset Management PTE Ltd. Takes $8.24 Million Position in Illumina, Inc. (NASDAQ:ILMN)

Arohi Asset Management PTE Ltd. acquired a new position in shares of Illumina, Inc. (NASDAQ:ILMN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 63,200 shares of the life sciences company’s stock, valued at approximately $8,242,000. Illumina makes up approximately 2.7% of Arohi Asset Management PTE Ltd.’s investment portfolio, making the stock its 4th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in shares of Illumina by 7.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,039,538 shares of the life sciences company’s stock valued at $317,267,000 after purchasing an additional 204,043 shares during the period. Primecap Management Co. CA grew its position in Illumina by 3.6% during the 3rd quarter. Primecap Management Co. CA now owns 2,516,359 shares of the life sciences company’s stock worth $328,158,000 after purchasing an additional 87,599 shares during the last quarter. Millennium Management LLC increased its stake in Illumina by 305.0% in the second quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock valued at $155,067,000 after purchasing an additional 1,118,747 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Illumina by 4.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,260,137 shares of the life sciences company’s stock valued at $164,334,000 after buying an additional 54,319 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Illumina by 148.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,056,172 shares of the life sciences company’s stock worth $137,735,000 after buying an additional 631,294 shares during the period. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Stock Down 0.1 %

Shares of NASDAQ ILMN opened at $144.15 on Monday. Illumina, Inc. has a 1 year low of $99.23 and a 1 year high of $156.66. The firm’s 50 day moving average price is $141.88 and its 200 day moving average price is $126.03. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. The firm has a market cap of $22.86 billion, a P/E ratio of -14.47 and a beta of 1.13.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.88 by $0.26. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates 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 was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 earnings per share. As a group, sell-side analysts anticipate that Illumina, Inc. will post 4.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ILMN shares. StockNews.com assumed coverage on Illumina in a research report on Thursday, August 29th. They set a “buy” rating for the company. Leerink Partners lifted their target price on shares of Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Wednesday, August 28th. Daiwa America raised Illumina to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Scotiabank dropped their price objective on Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.00.

Illumina 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.