Illumina Urges Shareholders to Support Director Nominees and Reject Carl Icahns Campaign

On May 1, 2023, Illumina, a leading global company in DNA sequencing and array-based technologies, released a shareholder letter calling for the support of all nine of Illumina’s director nominees on the WHITE proxy card at the upcoming Annual Meeting. The virtual meeting will occur on May 25, 2023, at 10:00 am Pacific Time (1:00 pm Eastern Time). Illumina is determined to increase Core Illumina non-GAAP operating margins to 27% by 2025 and has already announced more than $100 million in annualized cost savings.

However, Carl Icahn’s campaign has been spreading false information, and his unqualified nominees could potentially harm Illumina’s core business if elected. As a result, Illumina is urging shareholders to vote FOR all nine of Illumina’s director nominees on the WHITE proxy card to safeguard their investment and reject all three of Carl Icahn’s nominees. An independent chair leads the Board of Directors at Illumina, John W. Thompson, and all nine members are independent, except for Chief Executive Officer Francis A. deSouza. Each member brings a broad range of relevant skills to Illumina’s business.

Illumina has filed a preliminary proxy statement on Schedule 14A with the Securities and Exchange Commission (SEC), which includes a form of WHITE proxy card, about its solicitation of proxies for the 2023 Annual Meeting of Stockholders. The definitive proxy statement has been submitted to the SEC and mailed to shareholders. Interested investors can access these documents at the SEC’s website, www.sec.gov, free of charge.

Illumina Inc. (ILMN) Stock Analysis: Negative Earnings Growth and Market Competition in Genetic Sequencing Industry

On May 1, 2023, Illumina Inc. (ILMN) opened at $205.00 and fluctuated between $201.02 and $205.00 with a total volume of 34,929 shares traded. ILMN is a biotechnology company specializing in genetic sequencing and analysis with a market capitalization of $32.5 billion. Its earnings growth over the past year has been negative, with a growth rate of -652.18%, and its net profit margin is negative at -96.07%. The company’s price-to-sales ratio is 6.93, and its price-to-book ratio is 4.92. ILMN faces competition from Biogen (BIIB), Biomarin Pharmaceutical (BMRN), and Moderna Inc (MRNA) in the health technology sector. ILMN’s next reporting date is July 31, 2023, with an earnings per share forecast of $0.06. Its annual revenue for the past year was $4.6 billion, while its yearly profit for the same period was -$4.4 billion.

Illumina Incs Stock Predicted to Increase by 17.52%: Analysts Consensus to Buy

On May 1, 2023, Illumina Inc (ILMN) had a median target price of $237.50, with a high estimate of $334.00 and a low estimate of $150.00. This represents a potential increase of 17.52% from the last recorded price of $202.10. The 18 analysts offering 12-month price forecasts for Illumina Inc have a consensus to buy the stock. This rating has held steady since May when it was upgraded from a hold rating. Illumina Inc is a leading provider of genetic sequencing and analysis solutions. Researchers, clinicians, and pharmaceutical companies use the company’s products and services to advance the understanding and treatment of genetic diseases.

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