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Illumina Inc ILMN Stock Quote

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Morningstar‘s Stock Analysis ILMN

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Is it the right time to buy or sell?

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Illumina Delivers Case for Strong Growth in its Legacy Business at Investor Day; Shares Still Cheap

Julie Utterback, CFA Senior Equity Analyst

Analyst Note

| Julie Utterback, CFA |

At its investor day, narrow-moat Illumina highlighted long-term growth aspirations in its legacy Illumina business that look closer to our expectations for the combination of Illumina and Grail, not just the legacy business, during the next five years. Given the uncertainty surrounding new competitive forces in the legacy sequencing business, near-term macroeconomic pressures that could be felt, and the potential unwinding of the Grail acquisition; we think it is prudent to stay put at our $307 fair value estimate, for now. However, we still view shares as cheap, and we think investors should realize that our high uncertainty rating includes upside potential, not just downside risks, relative to our long-term cash flow assumptions that drive our fair value estimate. In fact, if Illumina can meet management's lofty expectations, our fair value estimate may even prove too conservative.

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Key Statistics ILMN

Company Profile ILMN

Business Description

Illumina provides tools and services to analyze genetic material with life science and clinical lab applications. The company generates over 90% of its revenue from sequencing instruments, consumables, and services. Illumina’s high-throughput technology enables whole genome sequencing in humans and other large organisms. Its lower throughput tools enable applications that require smaller data outputs, such as viral and cancer tumor screening. Illumina also sells microarrays (less than 10% of sales) that enable lower-cost, focused genetic screening with primarily consumer and agricultural applications.

5200 Illumina Way
San Diego, CA, 92122
T +1 858 202-4500
Industry Diagnostics & Research
Most Recent Earnings Jun 30, 2022
Fiscal Year End Jan 1, 2023
Employees 11,750

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