Acacia Communications, Inc. (NASDAQ:ACIA) VP Bhupendra C. Shah sold 8,300 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $44.59, for a total transaction of $370,097.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Acacia Communications, Inc. (ACIA) traded up 4.20% during midday trading on Monday, hitting $45.41. 500,914 shares of the stock were exchanged. The company’s 50 day moving average is $45.35 and its 200-day moving average is $48.19. Acacia Communications, Inc. has a 1-year low of $38.50 and a 1-year high of $121.93. The stock has a market cap of $1.78 billion, a PE ratio of 15.53 and a beta of 3.48.
Acacia Communications (NASDAQ:ACIA) last issued its earnings results on Thursday, August 3rd. The technology company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.18 by $0.08. Acacia Communications had a net margin of 29.65% and a return on equity of 34.46%. The company had revenue of $78.90 million for the quarter, compared to the consensus estimate of $78.17 million. During the same period in the previous year, the firm earned $0.77 earnings per share. The firm’s revenue for the quarter was down 32.0% on a year-over-year basis. On average, analysts expect that Acacia Communications, Inc. will post $1.88 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Research Global Investors increased its stake in shares of Acacia Communications by 47.6% in the second quarter. Capital Research Global Investors now owns 3,351,605 shares of the technology company’s stock worth $138,991,000 after buying an additional 1,080,126 shares during the period. Vanguard Group Inc. increased its stake in shares of Acacia Communications by 12.3% in the second quarter. Vanguard Group Inc. now owns 1,333,370 shares of the technology company’s stock worth $55,295,000 after buying an additional 145,531 shares during the period. FMR LLC increased its stake in shares of Acacia Communications by 61.2% in the first quarter. FMR LLC now owns 1,332,907 shares of the technology company’s stock worth $78,135,000 after buying an additional 506,153 shares during the period. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Acacia Communications by 8.9% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,287,255 shares of the technology company’s stock worth $53,382,000 after buying an additional 105,690 shares during the period. Finally, Wellington Management Group LLP purchased a new position in shares of Acacia Communications in the first quarter worth $72,279,000. 81.86% of the stock is currently owned by institutional investors.
ACIA has been the subject of several recent research reports. William Blair restated a “buy” rating on shares of Acacia Communications in a research report on Thursday, June 15th. Northland Securities set a $50.00 price target on shares of Acacia Communications and gave the company a “buy” rating in a research report on Saturday, July 22nd. Cowen and Company restated an “outperform” rating and issued a $57.00 price target (down from $66.00) on shares of Acacia Communications in a research report on Monday, July 17th. DA Davidson initiated coverage on shares of Acacia Communications in a research report on Thursday, June 22nd. They issued a “buy” rating and a $61.00 price target for the company. Finally, Zacks Investment Research upgraded shares of Acacia Communications from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $53.38.
About Acacia Communications
Acacia Communications, Inc provides high-speed coherent interconnect products. The Company’s products include a series of low-power coherent digital signal processor application-specific integrated circuits (DSP ASICs), and silicon photonic integrated circuits (silicon PICs), which it has integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per second (Gbps) for use in long-haul, metro and inter-data center markets.
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