• Illumina (ILMN) is trading at $175.10, down approximately 5% in after-hours trading, retracing from its recent multi-day rally.
  • This decline occurs despite Piper Sandler raising its price target on ILMN shares to $200 from $170 and maintaining an Overweight rating today.
  • The broader market was mixed, with the Nasdaq experiencing slight weakness and semiconductor stocks notably down, potentially contributing to the pullback.