Schwab Charles Investment Management Inc. Acquires 24,282 Shares of Acacia Communications, Inc. (ACIA)

Schwab Charles Investment Management Inc. lifted its stake in shares of Acacia Communications, Inc. (NASDAQ:ACIA) by 40.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 84,711 shares of the technology company’s stock after acquiring an additional 24,282 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.22% of Acacia Communications worth $3,513,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. American International Group Inc. grew its stake in shares of Acacia Communications by 7.1% during the 1st quarter. American International Group Inc. now owns 3,225 shares of the technology company’s stock valued at $189,000 after acquiring an additional 215 shares during the period. Princeton Capital Management Inc. lifted its holdings in Acacia Communications by 1.3% in the 2nd quarter. Princeton Capital Management Inc. now owns 29,008 shares of the technology company’s stock worth $1,203,000 after purchasing an additional 364 shares in the last quarter. Winfield Associates Inc. lifted its holdings in Acacia Communications by 6.0% in the 2nd quarter. Winfield Associates Inc. now owns 7,105 shares of the technology company’s stock worth $295,000 after purchasing an additional 400 shares in the last quarter. Tealwood Asset Management Inc. lifted its holdings in Acacia Communications by 1.8% in the 2nd quarter. Tealwood Asset Management Inc. now owns 33,350 shares of the technology company’s stock worth $1,383,000 after purchasing an additional 575 shares in the last quarter. Finally, Carl Domino Inc lifted its holdings in Acacia Communications by 22.2% in the 2nd quarter. Carl Domino Inc now owns 5,500 shares of the technology company’s stock worth $228,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors own 82.09% of the company’s stock.

Acacia Communications, Inc. (NASDAQ ACIA) opened at 40.99 on Friday. The company has a market cap of $1.61 billion, a P/E ratio of 14.02 and a beta of 3.27. Acacia Communications, Inc. has a 12 month low of $39.95 and a 12 month high of $88.66. The firm has a 50-day moving average price of $46.05 and a 200 day moving average price of $46.05.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.08. Acacia Communications had a return on equity of 34.46% and a net margin of 29.65%. The business had revenue of $78.90 million during the quarter, compared to the consensus estimate of $78.17 million. During the same period last year, the firm earned $0.77 earnings per share. The company’s revenue for the quarter was down 32.0% compared to the same quarter last year. Equities research analysts predict that Acacia Communications, Inc. will post $1.85 EPS for the current year.

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In other Acacia Communications news, insider Francis J. Murphy sold 598 shares of the firm’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $44.32, for a total value of $26,503.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Bhupendra C. Shah sold 8,300 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $47.81, for a total transaction of $396,823.00. The disclosure for this sale can be found here. Insiders sold 33,843 shares of company stock worth $1,567,441 in the last three months. 37.10% of the stock is currently owned by corporate insiders.

ACIA has been the topic of a number of research analyst reports. Cowen and Company reissued a “buy” rating and issued a $55.00 price target (down from $57.00) on shares of Acacia Communications in a report on Friday, August 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Acacia Communications in a report on Friday, August 4th. Northland Securities set a $50.00 price objective on Acacia Communications and gave the stock a “buy” rating in a report on Saturday, July 22nd. MKM Partners initiated coverage on Acacia Communications in a report on Tuesday, September 19th. They set a “buy” rating and a $64.00 price objective on the stock. Finally, ValuEngine downgraded Acacia Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $53.25.

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.

Institutional Ownership by Quarter for Acacia Communications (NASDAQ:ACIA)

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