Intrinsic value of Illumina - ILMN

Previous Close

$227.91

  Intrinsic Value

$142.50

stock screener

  Rating & Target

sell

-37%

Previous close

$227.91

 
Intrinsic value

$142.50

 
Up/down potential

-37%

 
Rating

sell

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of ILMN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

Please visit our new site that uses elements of artificial intelligence for stock valuation: artificial intelligence value of Illumina (ILMN) stock.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  8.02
  17.60
  16.34
  15.21
  14.19
  13.27
  12.44
  11.70
  11.03
  10.42
  9.88
  9.39
  8.95
  8.56
  8.20
  7.88
  7.59
  7.33
  7.10
  6.89
  6.70
  6.53
  6.38
  6.24
  6.12
  6.01
  5.90
  5.81
  5.73
  5.66
  5.59
Revenue, $m
  2,398
  2,820
  3,281
  3,780
  4,316
  4,888
  5,497
  6,140
  6,816
  7,527
  8,271
  9,048
  9,858
  10,702
  11,579
  12,492
  13,441
  14,427
  15,451
  16,516
  17,623
  18,774
  19,971
  21,218
  22,516
  23,868
  25,277
  26,747
  28,280
  29,880
  31,552
Variable operating expenses, $m
 
  2,028
  2,347
  2,692
  3,063
  3,459
  3,879
  4,324
  4,792
  5,284
  5,798
  6,258
  6,818
  7,402
  8,009
  8,640
  9,296
  9,978
  10,687
  11,423
  12,189
  12,985
  13,813
  14,675
  15,573
  16,508
  17,483
  18,499
  19,560
  20,666
  21,822
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,811
  2,028
  2,347
  2,692
  3,063
  3,459
  3,879
  4,324
  4,792
  5,284
  5,798
  6,258
  6,818
  7,402
  8,009
  8,640
  9,296
  9,978
  10,687
  11,423
  12,189
  12,985
  13,813
  14,675
  15,573
  16,508
  17,483
  18,499
  19,560
  20,666
  21,822
Operating income, $m
  587
  792
  934
  1,088
  1,253
  1,430
  1,617
  1,816
  2,024
  2,243
  2,473
  2,790
  3,040
  3,300
  3,571
  3,852
  4,145
  4,449
  4,765
  5,093
  5,434
  5,789
  6,158
  6,543
  6,943
  7,360
  7,794
  8,248
  8,720
  9,214
  9,729
EBITDA, $m
  728
  954
  1,110
  1,278
  1,460
  1,653
  1,859
  2,076
  2,305
  2,545
  2,797
  3,060
  3,334
  3,619
  3,916
  4,225
  4,545
  4,879
  5,225
  5,585
  5,960
  6,349
  6,754
  7,175
  7,614
  8,072
  8,548
  9,045
  9,564
  10,105
  10,670
Interest expense (income), $m
  0
  37
  49
  63
  79
  95
  112
  131
  150
  171
  193
  215
  239
  263
  289
  316
  343
  372
  402
  433
  466
  499
  534
  571
  609
  648
  689
  732
  777
  823
  872
Earnings before tax, $m
  561
  755
  885
  1,024
  1,175
  1,335
  1,505
  1,685
  1,874
  2,072
  2,280
  2,575
  2,801
  3,037
  3,282
  3,536
  3,801
  4,076
  4,362
  4,659
  4,968
  5,290
  5,624
  5,972
  6,334
  6,712
  7,105
  7,516
  7,944
  8,391
  8,857
Tax expense, $m
  133
  204
  239
  277
  317
  360
  406
  455
  506
  560
  616
  695
  756
  820
  886
  955
  1,026
  1,101
  1,178
  1,258
  1,341
  1,428
  1,518
  1,612
  1,710
  1,812
  1,918
  2,029
  2,145
  2,265
  2,392
Net income, $m
  463
  551
  646
  748
  857
  974
  1,099
  1,230
  1,368
  1,513
  1,665
  1,880
  2,045
  2,217
  2,396
  2,582
  2,775
  2,976
  3,184
  3,401
  3,627
  3,862
  4,106
  4,360
  4,624
  4,900
  5,187
  5,486
  5,799
  6,125
  6,466

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  1,559
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  4,281
  3,201
  3,724
  4,290
  4,899
  5,549
  6,239
  6,969
  7,737
  8,544
  9,388
  10,270
  11,189
  12,147
  13,143
  14,179
  15,256
  16,375
  17,538
  18,747
  20,003
  21,310
  22,669
  24,084
  25,557
  27,092
  28,691
  30,359
  32,100
  33,916
  35,814
Adjusted assets (=assets-cash), $m
  2,722
  3,201
  3,724
  4,290
  4,899
  5,549
  6,239
  6,969
  7,737
  8,544
  9,388
  10,270
  11,189
  12,147
  13,143
  14,179
  15,256
  16,375
  17,538
  18,747
  20,003
  21,310
  22,669
  24,084
  25,557
  27,092
  28,691
  30,359
  32,100
  33,916
  35,814
Revenue / Adjusted assets
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
  0.881
Average production assets, $m
  786
  925
  1,076
  1,240
  1,416
  1,603
  1,803
  2,014
  2,236
  2,469
  2,713
  2,968
  3,233
  3,510
  3,798
  4,097
  4,409
  4,732
  5,068
  5,417
  5,780
  6,158
  6,551
  6,959
  7,385
  7,829
  8,291
  8,773
  9,276
  9,801
  10,349
Working capital, $m
  1,613
  65
  75
  87
  99
  112
  126
  141
  157
  173
  190
  208
  227
  246
  266
  287
  309
  332
  355
  380
  405
  432
  459
  488
  518
  549
  581
  615
  650
  687
  726
Total debt, $m
  1,049
  1,414
  1,814
  2,247
  2,713
  3,210
  3,738
  4,296
  4,884
  5,501
  6,147
  6,821
  7,525
  8,257
  9,020
  9,812
  10,636
  11,492
  12,382
  13,306
  14,267
  15,267
  16,307
  17,389
  18,516
  19,690
  20,914
  22,190
  23,521
  24,911
  26,362
Total liabilities, $m
  2,083
  2,449
  2,849
  3,282
  3,748
  4,245
  4,773
  5,331
  5,919
  6,536
  7,182
  7,856
  8,560
  9,292
  10,055
  10,847
  11,671
  12,527
  13,417
  14,341
  15,302
  16,302
  17,342
  18,424
  19,551
  20,725
  21,949
  23,225
  24,556
  25,946
  27,397
Total equity, $m
  2,197
  752
  875
  1,008
  1,151
  1,304
  1,466
  1,638
  1,818
  2,008
  2,206
  2,413
  2,630
  2,855
  3,089
  3,332
  3,585
  3,848
  4,121
  4,405
  4,701
  5,008
  5,327
  5,660
  6,006
  6,367
  6,742
  7,134
  7,543
  7,970
  8,416
Total liabilities and equity, $m
  4,280
  3,201
  3,724
  4,290
  4,899
  5,549
  6,239
  6,969
  7,737
  8,544
  9,388
  10,269
  11,190
  12,147
  13,144
  14,179
  15,256
  16,375
  17,538
  18,746
  20,003
  21,310
  22,669
  24,084
  25,557
  27,092
  28,691
  30,359
  32,099
  33,916
  35,813
Debt-to-equity ratio
  0.477
  1.880
  2.070
  2.230
  2.360
  2.460
  2.550
  2.620
  2.690
  2.740
  2.790
  2.830
  2.860
  2.890
  2.920
  2.940
  2.970
  2.990
  3.000
  3.020
  3.040
  3.050
  3.060
  3.070
  3.080
  3.090
  3.100
  3.110
  3.120
  3.130
  3.130
Adjusted equity ratio
  0.234
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  463
  551
  646
  748
  857
  974
  1,099
  1,230
  1,368
  1,513
  1,665
  1,880
  2,045
  2,217
  2,396
  2,582
  2,775
  2,976
  3,184
  3,401
  3,627
  3,862
  4,106
  4,360
  4,624
  4,900
  5,187
  5,486
  5,799
  6,125
  6,466
Depreciation, amort., depletion, $m
  141
  162
  175
  190
  206
  223
  241
  261
  281
  302
  324
  270
  294
  319
  345
  372
  401
  430
  461
  492
  525
  560
  596
  633
  671
  712
  754
  798
  843
  891
  941
Funds from operations, $m
  642
  713
  821
  938
  1,064
  1,198
  1,340
  1,491
  1,649
  1,815
  1,989
  2,149
  2,339
  2,536
  2,741
  2,954
  3,176
  3,406
  3,645
  3,894
  4,152
  4,421
  4,701
  4,992
  5,295
  5,611
  5,941
  6,284
  6,642
  7,016
  7,407
Change in working capital, $m
  -45
  10
  11
  11
  12
  13
  14
  15
  16
  16
  17
  18
  19
  19
  20
  21
  22
  23
  24
  24
  25
  26
  28
  29
  30
  31
  32
  34
  35
  37
  38
Cash from operations, $m
  687
  703
  811
  927
  1,051
  1,185
  1,326
  1,476
  1,633
  1,799
  1,972
  2,132
  2,320
  2,516
  2,721
  2,933
  3,154
  3,383
  3,622
  3,869
  4,127
  4,395
  4,674
  4,964
  5,266
  5,580
  5,908
  6,250
  6,607
  6,979
  7,368
Maintenance CAPEX, $m
  0
  -71
  -84
  -98
  -113
  -129
  -146
  -164
  -183
  -203
  -224
  -247
  -270
  -294
  -319
  -345
  -372
  -401
  -430
  -461
  -492
  -525
  -560
  -596
  -633
  -671
  -712
  -754
  -798
  -843
  -891
New CAPEX, $m
  -271
  -139
  -151
  -164
  -176
  -188
  -199
  -211
  -222
  -233
  -244
  -255
  -266
  -277
  -288
  -299
  -311
  -323
  -336
  -349
  -363
  -378
  -393
  -409
  -426
  -443
  -462
  -482
  -503
  -525
  -548
Cash from investing activities, $m
  -515
  -210
  -235
  -262
  -289
  -317
  -345
  -375
  -405
  -436
  -468
  -502
  -536
  -571
  -607
  -644
  -683
  -724
  -766
  -810
  -855
  -903
  -953
  -1,005
  -1,059
  -1,114
  -1,174
  -1,236
  -1,301
  -1,368
  -1,439
Free cash flow, $m
  172
  493
  575
  665
  763
  868
  981
  1,101
  1,228
  1,362
  1,503
  1,630
  1,785
  1,946
  2,114
  2,288
  2,470
  2,659
  2,855
  3,059
  3,271
  3,492
  3,721
  3,959
  4,207
  4,465
  4,734
  5,014
  5,306
  5,611
  5,929
Issuance/(repayment) of debt, $m
  -61
  366
  400
  433
  466
  497
  528
  558
  588
  617
  646
  675
  703
  733
  762
  793
  824
  856
  890
  925
  961
  1,000
  1,040
  1,082
  1,127
  1,174
  1,224
  1,276
  1,331
  1,390
  1,451
Issuance/(repurchase) of shares, $m
  -202
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -205
  366
  400
  433
  466
  497
  528
  558
  588
  617
  646
  675
  703
  733
  762
  793
  824
  856
  890
  925
  961
  1,000
  1,040
  1,082
  1,127
  1,174
  1,224
  1,276
  1,331
  1,390
  1,451
Total cash flow (excl. dividends), $m
  -34
  859
  975
  1,098
  1,228
  1,365
  1,509
  1,659
  1,816
  1,979
  2,149
  2,305
  2,488
  2,678
  2,876
  3,081
  3,294
  3,515
  3,745
  3,984
  4,233
  4,491
  4,761
  5,042
  5,334
  5,639
  5,958
  6,291
  6,638
  7,001
  7,380
Retained Cash Flow (-), $m
  -348
  -113
  -123
  -133
  -143
  -153
  -162
  -171
  -181
  -190
  -198
  -207
  -216
  -225
  -234
  -243
  -253
  -263
  -273
  -284
  -295
  -307
  -319
  -332
  -346
  -361
  -376
  -392
  -409
  -427
  -446
Prev. year cash balance distribution, $m
 
  1,558
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  2,303
  853
  965
  1,085
  1,213
  1,347
  1,488
  1,635
  1,790
  1,951
  2,097
  2,272
  2,453
  2,642
  2,837
  3,041
  3,252
  3,472
  3,700
  3,937
  4,184
  4,441
  4,709
  4,988
  5,279
  5,582
  5,898
  6,229
  6,574
  6,935
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  2,208
  780
  840
  894
  940
  977
  1,005
  1,022
  1,028
  1,023
  996
  970
  933
  887
  833
  773
  708
  639
  570
  500
  433
  369
  309
  254
  205
  163
  127
  96
  72
  52
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Illumina, Inc. (Illumina) is a provider of sequencing- and array-based solutions for genetic analysis. The Company operates through two segments: Core Illumina and the consolidated variable interest entities (VIEs), which include the activities of GRAIL, Inc. (GRAIL) and Helix Holdings I, LLC (Helix). Core Illumina consists of its core operations. Core Illumina's products and services serve customers in the research, clinical and applied markets, and enable the adoption of a range of genomic solutions. The Company's portfolio of integrated systems, consumables and analysis tools addresses the range of genomic complexity, price points, and throughput, enabling customers to select the solution for their research or clinical challenge. The Company provides reproductive-health solutions, including noninvasive prenatal testing (NIPT), preimplantation genetic screening and diagnosis, and neonatal and genetic health testing.

FINANCIAL RATIOS  of  Illumina (ILMN)

Valuation Ratios
P/E Ratio 72
Price to Sales 13.9
Price to Book 15.2
Price to Tangible Book
Price to Cash Flow 48.5
Price to Free Cash Flow 80.1
Growth Rates
Sales Growth Rate 8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 89.5%
Cap. Spend. - 3 Yr. Gr. Rate 24.4%
Financial Strength
Quick Ratio 1559
Current Ratio 0
LT Debt to Equity 47.7%
Total Debt to Equity 47.7%
Interest Coverage 0
Management Effectiveness
Return On Assets 11.6%
Ret/ On Assets - 3 Yr. Avg. 12%
Return On Total Capital 15%
Ret/ On T. Cap. - 3 Yr. Avg. 14.8%
Return On Equity 22.9%
Return On Equity - 3 Yr. Avg. 24.8%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 69.5%
Gross Margin - 3 Yr. Avg. 69.7%
EBITDA Margin 29.3%
EBITDA Margin - 3 Yr. Avg. 30.5%
Operating Margin 24.5%
Oper. Margin - 3 Yr. Avg. 26.6%
Pre-Tax Margin 23.4%
Pre-Tax Margin - 3 Yr. Avg. 24.6%
Net Profit Margin 19.3%
Net Profit Margin - 3 Yr. Avg. 19.7%
Effective Tax Rate 23.7%
Eff/ Tax Rate - 3 Yr. Avg. 22.2%
Payout Ratio 0%

ILMN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ILMN stock intrinsic value calculation we used $2398 million for the last fiscal year's total revenue generated by Illumina. The default revenue input number comes from 2017 income statement of Illumina. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ILMN stock valuation model: a) initial revenue growth rate of 17.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for ILMN is calculated based on our internal credit rating of Illumina, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Illumina.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ILMN stock the variable cost ratio is equal to 72.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for ILMN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Illumina.

Corporate tax rate of 27% is the nominal tax rate for Illumina. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ILMN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ILMN are equal to 32.8%.

Life of production assets of 11 years is the average useful life of capital assets used in Illumina operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ILMN is equal to 2.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2197 million for Illumina - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 145.361 million for Illumina is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Illumina at the current share price and the inputted number of shares is $33.1 billion.

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COMPANY NEWS

▶ Illumina beats Street 4Q forecasts   [Jan-30-18 04:31PM  Associated Press]
▶ Stocks Down, More Homebuilders In Trouble; When To Sell Apple   [01:00PM  Investor's Business Daily]
▶ Illumina, Inc. to Host Earnings Call   [10:30AM  ACCESSWIRE]
▶ Illumina Q4 Earnings Preview   [08:41AM  Benzinga]
▶ Better Buy: Illumina, Inc. vs. Roche   [Jan-27-18 10:33AM  Motley Fool]
▶ 3 Stocks That Feel Like Netflix in 2002   [Jan-22-18 11:00AM  Motley Fool]
▶ Is Illumina, Inc. a Buy in 2018?   [Jan-18-18 07:32AM  Motley Fool]
▶ Winners & losers from JP Morgan Healthcare Conference   [Jan-16-18 07:36PM  CNBC Videos]
▶ What Happened in the Stock Market Today   [Jan-09-18 05:02PM  Motley Fool]
▶ Illumina Launches iSeq 100 Sequencing System   [07:10PM  Business Wire]
▶ Analysts Take Action on Health Care Stocks   [Jan-03-18 03:25PM  GuruFocus.com]
▶ Stocks Rally Into 2018: Disney, Netflix Lead As China, Chip Stocks Rise   [Jan-02-18 09:42AM  Investor's Business Daily]
▶ Use Both Offense And Defense For Profitable Swing Trades   [Dec-29-17 04:17PM  Investor's Business Daily]
▶ TMOs Launch of New Research Assay for Cancer   [Dec-28-17 10:33AM  Market Realist]
▶ 7 A-Rated Healthcare Stocks to Buy   [Dec-15-17 12:09PM  InvestorPlace]
▶ ETFs with exposure to Illumina, Inc. : December 14, 2017   [Dec-14-17 01:33PM  Capital Cube]
▶ Better Buy: Illumina, Inc. vs. Pacific Biosciences   [Dec-11-17 12:04PM  Motley Fool]
▶ Disney adds two tech execs to board   [Dec-07-17 05:55PM  American City Business Journals]
▶ Why Illumina Jumped 9.8% in November   [03:25PM  Motley Fool]
▶ No. 1-Ranked Medical Stock Tests Support In New Base   [Dec-04-17 04:12PM  Investor's Business Daily]
▶ ETFs with exposure to Illumina, Inc. : November 30, 2017   [Nov-30-17 01:59PM  Capital Cube]
▶ Why 2017 Was a Year to Remember for Illumina, Inc.   [Nov-29-17 08:43AM  Motley Fool]
▶ Signet Jewelers and Illumina Rose on November 27   [Nov-28-17 10:34AM  Market Realist]
▶ ETFs with exposure to Illumina, Inc. : November 20, 2017   [Nov-20-17 12:41PM  Capital Cube]
▶ ETFs with exposure to Illumina, Inc. : November 9, 2017   [Nov-09-17 12:48PM  Capital Cube]
▶ ETFs with exposure to Illumina, Inc. : October 30, 2017   [Oct-30-17 11:58AM  Capital Cube]
▶ 3 Stocks to Buy for the Next Generation   [08:00AM  Motley Fool]
▶ Illumina tops Street 3Q forecasts   [04:39PM  Associated Press]
▶ Illumina, Inc. to Host Earnings Call   [10:25AM  ACCESSWIRE]
▶ Deutsche Bank Brightens Its View On Illumina   [Oct-23-17 01:44PM  Benzinga]
Financial statements of ILMN
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