Acacia Communications, Inc. (NASDAQ:ACIA) VP Bhupendra C. Shah sold 1,231 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $36.40, for a total value of $44,808.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Bhupendra C. Shah also recently made the following trade(s):
- On Thursday, September 7th, Bhupendra C. Shah sold 8,300 shares of Acacia Communications stock. The shares were sold at an average price of $44.59, for a total value of $370,097.00.
Shares of Acacia Communications, Inc. (NASDAQ ACIA) traded up $1.62 during trading on Monday, hitting $39.97. The company had a trading volume of 561,384 shares, compared to its average volume of 1,050,313. The stock has a market cap of $1,510.00 and a price-to-earnings ratio of 13.22. Acacia Communications, Inc. has a 1 year low of $35.36 and a 1 year high of $74.75.
Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. Acacia Communications had a return on equity of 25.29% and a net margin of 27.98%. The firm had revenue of $105.00 million for the quarter, compared to analysts’ expectations of $104.35 million. During the same period in the prior year, the firm posted $1.01 earnings per share. The firm’s quarterly revenue was down 22.4% on a year-over-year basis. equities research analysts anticipate that Acacia Communications, Inc. will post 1.15 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. State of Wisconsin Investment Board increased its stake in shares of Acacia Communications by 7.7% during the 2nd quarter. State of Wisconsin Investment Board now owns 70,000 shares of the technology company’s stock worth $2,903,000 after purchasing an additional 5,000 shares in the last quarter. Hamilton Lane Advisors LLC boosted its holdings in shares of Acacia Communications by 177.5% in the 2nd quarter. Hamilton Lane Advisors LLC now owns 129,582 shares of the technology company’s stock valued at $5,374,000 after purchasing an additional 82,891 shares during the last quarter. Koch Industries Inc. lifted its holdings in shares of Acacia Communications by 9,918.7% during the 2nd 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 in the last quarter. Patten & Patten Inc. TN acquired a new position in shares of Acacia Communications during the 2nd quarter valued at $855,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Acacia Communications in the 2nd quarter worth about $1,013,000. Institutional investors and hedge funds own 91.48% of the company’s stock.
ACIA has been the topic of a number of analyst reports. B. Riley reaffirmed a “neutral” rating and issued a $44.00 price target on shares of Acacia Communications in a research note on Wednesday, August 9th. Zacks Investment Research cut Acacia Communications from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. MKM Partners assumed coverage on Acacia Communications in a research report on Tuesday, September 19th. They issued a “buy” rating and a $64.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of Acacia Communications in a research report on Monday, October 23rd. Finally, William Blair started coverage on Acacia Communications in a report on Tuesday, October 31st. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Acacia Communications has an average rating of “Buy” and a consensus target price of $50.50.
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Acacia Communications Company Profile
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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