Salem Investment Counselors Inc. Has $1.54 Million Position in Illumina, Inc. (ILMN)

Salem Investment Counselors Inc. raised its holdings in Illumina, Inc. (NASDAQ:ILMN) by 101.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,509 shares of the life sciences company’s stock after buying an additional 2,780 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Illumina were worth $1,539,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Kaizen Advisory LLC raised its stake in Illumina by 161.0% in the second quarter. Kaizen Advisory LLC now owns 368 shares of the life sciences company’s stock valued at $103,000 after buying an additional 227 shares during the last quarter. Sun Life Financial INC raised its stake in Illumina by 152.5% in the second quarter. Sun Life Financial INC now owns 399 shares of the life sciences company’s stock valued at $111,000 after buying an additional 241 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in Illumina by 3,192.3% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 428 shares of the life sciences company’s stock valued at $120,000 after buying an additional 415 shares during the last quarter. Hall Laurie J Trustee raised its stake in Illumina by 189.5% in the second quarter. Hall Laurie J Trustee now owns 550 shares of the life sciences company’s stock valued at $154,000 after buying an additional 360 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new stake in Illumina in the second quarter valued at about $201,000. Institutional investors own 89.83% of the company’s stock.

A number of research analysts have recently weighed in on the company. Canaccord Genuity reissued a “buy” rating and issued a $340.00 price objective (up from $330.00) on shares of Illumina in a report on Friday, July 27th. Deutsche Bank increased their price objective on Illumina from $280.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. BidaskClub raised Illumina from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 1st. Citigroup increased their price objective on Illumina from $275.00 to $330.00 and gave the company a “buy” rating in a report on Monday, June 25th. Finally, Morgan Stanley raised Illumina from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $210.00 to $320.00 in a report on Tuesday, August 7th. Five investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $308.25.

In related news, Director Jay T. Flatley sold 3,300 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $351.66, for a total transaction of $1,160,478.00. Following the sale, the director now directly owns 392,204 shares of the company’s stock, valued at $137,922,458.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Francis A. Desouza sold 2,100 shares of the firm’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $276.14, for a total value of $579,894.00. Following the sale, the chief executive officer now directly owns 83,282 shares in the company, valued at $22,997,491.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,837 shares of company stock worth $14,939,513. 0.54% of the stock is owned by corporate insiders.

Illumina stock opened at $353.12 on Friday. The stock has a market cap of $51.42 billion, a P/E ratio of 88.28, a P/E/G ratio of 2.90 and a beta of 0.97. Illumina, Inc. has a 52 week low of $196.00 and a 52 week high of $357.93. The company has a current ratio of 2.74, a quick ratio of 2.44 and a debt-to-equity ratio of 0.22.

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

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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