South State Corp Invests $1.26 Million in Illumina, Inc. (ILMN) Stock

South State Corp bought a new stake in Illumina, Inc. (NASDAQ:ILMN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,518 shares of the life sciences company’s stock, valued at approximately $1,262,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ILMN. Global X Management Co. LLC increased its position in shares of Illumina by 8.7% during the first quarter. Global X Management Co. LLC now owns 4,512 shares of the life sciences company’s stock worth $1,067,000 after purchasing an additional 362 shares in the last quarter. Ashfield Capital Partners LLC grew its holdings in shares of Illumina by 8.3% during the first quarter. Ashfield Capital Partners LLC now owns 7,762 shares of the life sciences company’s stock valued at $1,835,000 after buying an additional 598 shares during the last quarter. Howland Capital Management LLC grew its holdings in shares of Illumina by 5.3% during the first quarter. Howland Capital Management LLC now owns 5,014 shares of the life sciences company’s stock valued at $1,185,000 after buying an additional 254 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Illumina by 21.1% during the first quarter. Daiwa Securities Group Inc. now owns 6,711 shares of the life sciences company’s stock valued at $1,587,000 after buying an additional 1,168 shares during the last quarter. Finally, Biondo Investment Advisors LLC grew its holdings in shares of Illumina by 4.5% during the first quarter. Biondo Investment Advisors LLC now owns 47,313 shares of the life sciences company’s stock valued at $11,186,000 after buying an additional 2,033 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

In related news, SVP Mostafa Ronaghi sold 10,500 shares of the company’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $284.83, for a total transaction of $2,990,715.00. Following the completion of the transaction, the senior vice president now owns 81,496 shares in the company, valued at approximately $23,212,505.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Francis A. Desouza sold 2,100 shares of the company’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $276.14, for a total transaction of $579,894.00. Following the transaction, the chief executive officer now owns 83,282 shares of the company’s stock, valued at approximately $22,997,491.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,946 shares of company stock valued at $11,765,715. Insiders own 0.54% of the company’s stock.

NASDAQ:ILMN traded up $1.82 during mid-day trading on Friday, hitting $354.83. The company’s stock had a trading volume of 1,236,000 shares, compared to its average volume of 892,541. Illumina, Inc. has a 1 year low of $193.63 and a 1 year high of $357.93. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.44 and a current ratio of 2.74. The firm has a market cap of $50.68 billion, a price-to-earnings ratio of 88.71, a PEG ratio of 2.86 and a beta of 0.97.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Monday, July 30th. The life sciences company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.32. The business had revenue of $830.00 million during the quarter, compared to the consensus estimate of $786.88 million. Illumina had a net margin of 20.88% and a return on equity of 26.64%. The company’s revenue was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 earnings per share. equities research analysts predict that Illumina, Inc. will post 5.46 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on the stock. Argus set a $372.00 price objective on shares of Illumina and gave the company a “buy” rating in a report on Friday, August 10th. Morgan Stanley raised shares of Illumina from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $210.00 to $320.00 in a report on Tuesday, August 7th. ValuEngine raised shares of Illumina from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of Illumina to $350.00 and gave the company an “overweight” rating in a report on Tuesday, July 31st. Finally, Bank of America boosted their price objective on shares of Illumina from $345.00 to $370.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Illumina has an average rating of “Buy” and a consensus price target of $303.53.

Illumina Profile

Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing by synthesis technology that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as allow the detection of known genetic markers on a single array.

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Institutional Ownership by Quarter for Illumina (NASDAQ:ILMN)

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