Shares of Illumina, Inc. ( NASDAQ:ILMN ) , the leading provider of DNA sequencing technology to academic and commercial laboratories, fell after reporting disappointing financial results. The quarterly shortfall was driven by weak sales of its high-throughput instruments. We reduced the size of our position but continue to own the stock because we believe Illumina has a long runway for growth driven by increasing adoption of DNA sequencing in clinical markets such as cancer screening, diagnosis, and treatment. We are encouraged that the shares have had a meaningful recovery in early January, as the company provided encouraging earnings guidance for 2017 and launched a powerful, new DNA sequencing platform.
From Barron Asset Fund fourth quarter 2016 commentary .
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