Illumina (ILMN) shares are moving higher on renewed speculation that the company could be a takeover target.

Website StreetInsider, citing a source "claiming to have knowledge of the matter," reported that Illumina is said to have received a $30B acquisition proposal from Thermo Fisher Scientific (TMO). The deal would be in all stock and contain no cash, the source told the website.

Illumina's current market capitalization stands over $26B. Last week in an interview with Tip TV Finance, Betaville's Ben Harrington said that the "most recent rumor" is around Illumina. Roche (RHHBY) tried a hostile bid of the company in 2013 and takeover talk is again "hitting the radar," Harrington said. He added that he's not sure if Roche is taking a look again, or if "something else entirely" is going on. The M&A reporter cautioned that the Illumina rumors are "total speculation."

In early trading, shares of Illumina are up 6%, or $10.78, to $179.93. Thermo Fisher is down 99c to $153.70.