Fifth Third Bancorp Has $71,000 Holdings in Illumina, Inc. (NASDAQ:ILMN)

Fifth Third Bancorp lessened its stake in Illumina, Inc. (NASDAQ:ILMN) by 68.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 892 shares of the life sciences company’s stock after selling 1,904 shares during the quarter. Fifth Third Bancorp’s holdings in Illumina were worth $71,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital World Investors increased its holdings in shares of Illumina by 408.6% in the fourth quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company’s stock valued at $2,408,721,000 after purchasing an additional 14,481,232 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Illumina by 0.8% during the fourth quarter. Bank of New York Mellon Corp now owns 3,402,057 shares of the life sciences company’s stock worth $454,617,000 after purchasing an additional 27,618 shares during the period. Brown Advisory Inc. grew its stake in shares of Illumina by 54,220.9% during the fourth quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company’s stock worth $255,586,000 after purchasing an additional 1,909,118 shares during the period. Norges Bank acquired a new stake in shares of Illumina during the fourth quarter worth $228,714,000. Finally, Northern Trust Corp grew its stake in shares of Illumina by 26.9% during the fourth quarter. Northern Trust Corp now owns 1,652,935 shares of the life sciences company’s stock worth $220,882,000 after purchasing an additional 349,878 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Insiders Place Their Bets

In other Illumina news, CFO Ankur Dhingra acquired 6,100 shares of Illumina stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the purchase, the chief financial officer now directly owns 24,906 shares in the company, valued at approximately $2,022,616.26. This represents a 32.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

Illumina Price Performance

Shares of NASDAQ ILMN opened at $90.49 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.48 and a debt-to-equity ratio of 0.63. The firm has a market cap of $14.32 billion, a PE ratio of -14.91, a PEG ratio of 1.77 and a beta of 1.32. The company has a fifty day moving average price of $80.72 and a 200 day moving average price of $101.08. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $156.66.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. Illumina had a positive return on equity of 25.54% and a negative net margin of 22.25%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. Illumina’s revenue for the quarter was down 1.4% compared to the same quarter last year. Research analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ILMN. Royal Bank Of Canada decreased their target price on Illumina from $128.00 to $112.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Morgan Stanley decreased their price objective on shares of Illumina from $136.00 to $100.00 and set an “equal weight” rating for the company in a report on Monday, May 12th. Citigroup decreased their price target on shares of Illumina from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, April 7th. JPMorgan Chase & Co. decreased their price target on shares of Illumina from $120.00 to $85.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Finally, Stephens reissued an “overweight” rating and issued a $105.00 price target on shares of Illumina in a report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.94.

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.