Kornitzer Capital Management Inc. KS Reduces Holdings in Illumina, Inc. (NASDAQ:ILMN)

Kornitzer Capital Management Inc. KS trimmed its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 1.8% in the 4th quarter, Holdings Channel reports. The firm owned 20,664 shares of the life sciences company’s stock after selling 388 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Illumina were worth $2,761,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ILMN. Versant Capital Management Inc increased its position in shares of Illumina by 153.7% during the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock worth $32,000 after purchasing an additional 146 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Illumina during the fourth quarter worth approximately $32,000. TD Private Client Wealth LLC increased its position in shares of Illumina by 58.5% during the third quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock worth $50,000 after purchasing an additional 141 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of Illumina by 50.6% during the fourth quarter. V Square Quantitative Management LLC now owns 393 shares of the life sciences company’s stock worth $52,000 after purchasing an additional 132 shares in the last quarter. Finally, Private Trust Co. NA increased its position in shares of Illumina by 81.2% during the third quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock worth $62,000 after purchasing an additional 212 shares in the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Price Performance

ILMN opened at $101.05 on Wednesday. The stock’s 50-day moving average price is $130.85 and its 200 day moving average price is $134.63. Illumina, Inc. has a 12-month low of $99.33 and a 12-month high of $156.66. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The firm has a market cap of $16.03 billion, a price-to-earnings ratio of -13.16 and a beta of 1.10.

Illumina (NASDAQ:ILMN) last posted its earnings results 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 12.59% and a negative net margin of 27.95%. As a group, sell-side analysts expect that Illumina, Inc. will post 4.42 earnings per share for the current year.

Analysts Set New Price Targets

ILMN has been the subject of several analyst reports. Stephens upped their target price on Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Barclays cut Illumina from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $130.00 to $100.00 in a report on Monday, February 10th. UBS Group upped their target price on Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their target price on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Piper Sandler upped their target price on Illumina from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Illumina has an average rating of “Moderate Buy” and an average price target of $159.45.

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.