Illumina, Inc.
In the published model solve dated 2026-Q2, anchored at $207.18, Illumina, Inc. (ILMN) is priced for today's economics sustained for ~10.4 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
• Illumina sells DNA-sequencing machines and the consumables they run on, a razor-and-blade model where the consumables, used every time a sample is sequenced, are the recurring revenue that matters more than the instruments. • The risk is the price against the demand cycle: at about 31 times operating income the market is paying for growth at the company's self-funding ceiling to persist for roughly nine years, while total revenue has been roughly flat as research customers pull back [Source: I
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820 institutional managers reported holding ILMN in 13F filings for the quarter ended 2026-03-31. 76 opened new positions that quarter. Held by BlackRock, Capital Group (American Funds), Vanguard Group, among others. On the short side, 9.2M shares were sold short as of the 2026-06-15 count, about 6% of shares outstanding (4.5 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
ILMN's share count grew 1.9% over the past five years even with $1.11B spent on repurchases. It pays no dividend. Cash returned over the past three years: $1.11B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at ILMN over the trailing three years: 2025: 9 buys totaling $1.56M; 2026: 1 buy totaling $24k. 21 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
ILMN's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2022-08-12 | -8.3% | -4.3% |
| 2022-11-05 | +6.3% | -10.0% |
| 2023-05-06 | -7.9% | -8.2% |
| 2023-08-11 | -0.6% | -28.5% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
ILMN's latest 8-K filings: 2026-08-17 (items 8.01, 9.01); 2026-08-13 (items 1.01, 1.02, 2.03, 9.01); 2026-08-12 (items 8.01, 9.01); 2026-08-07 (items 8.01, 9.01); 2026-07-30 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.