Acacia Communications, Inc. (NASDAQ:ACIA) CFO John F. Gavin sold 880 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $36.40, for a total value of $32,032.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Acacia Communications, Inc. (NASDAQ:ACIA) traded down $0.05 on Friday, hitting $37.55. The company had a trading volume of 516,215 shares, compared to its average volume of 1,079,447. The stock has a market capitalization of $1,480.00 and a P/E ratio of 12.28. Acacia Communications, Inc. has a one year low of $35.36 and a one year high of $79.38.
Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.11. The company had revenue of $105.00 million during the quarter, compared to the consensus estimate of $104.35 million. Acacia Communications had a return on equity of 25.29% and a net margin of 27.98%. Acacia Communications’s revenue was down 22.4% on a year-over-year basis. During the same period last year, the business posted $1.01 earnings per share. equities analysts forecast that Acacia Communications, Inc. will post 1.15 EPS for the current fiscal year.
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Several brokerages have recently commented on ACIA. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Acacia Communications in a research note on Monday, October 23rd. William Blair began coverage on Acacia Communications in a research note on Tuesday, October 31st. They issued a “buy” rating for the company. Northland Securities set a $50.00 price objective on Acacia Communications and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Zacks Investment Research downgraded Acacia Communications from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Finally, AltaCorp Capital raised Acacia Communications from a “neutral” rating to a “buy” rating in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. Acacia Communications has a consensus rating of “Buy” and an average price target of $50.50.
Several institutional investors and hedge funds have recently modified their holdings of ACIA. Capital Research Global Investors increased its position in shares of Acacia Communications by 47.6% during the second quarter. Capital Research Global Investors now owns 3,351,605 shares of the technology company’s stock valued at $138,991,000 after acquiring an additional 1,080,126 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its position in shares of Acacia Communications by 847.7% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 1,052,261 shares of the technology company’s stock valued at $49,561,000 after acquiring an additional 941,232 shares during the last quarter. Koch Industries Inc. increased its position in shares of Acacia Communications by 9,918.7% during the second quarter. Koch Industries Inc. now owns 522,678 shares of the technology company’s stock valued at $510,000 after acquiring an additional 517,461 shares during the last quarter. Oak Ridge Investments LLC purchased a new stake in shares of Acacia Communications during the third quarter valued at approximately $12,992,000. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Acacia Communications during the third quarter valued at approximately $12,512,000. 84.32% of the stock is owned by institutional investors.
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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