Acacia Communications, Inc. (NASDAQ:ACIA) VP Christian J. Rasmussen sold 8,000 shares of the company’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $43.84, for a total value of $350,720.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Christian J. Rasmussen also recently made the following trade(s):
- On Monday, January 29th, Christian J. Rasmussen sold 32,000 shares of Acacia Communications stock. The stock was sold at an average price of $35.05, for a total value of $1,121,600.00.
Acacia Communications stock traded down $0.59 during trading hours on Thursday, reaching $42.07. The company had a trading volume of 87,638 shares, compared to its average volume of 537,694. The stock has a market capitalization of $1,694.60, a price-to-earnings ratio of 47.93, a PEG ratio of 7.41 and a beta of 0.92. Acacia Communications, Inc. has a 52-week low of $33.68 and a 52-week high of $61.15.
Acacia Communications (NASDAQ:ACIA) last posted its earnings results on Thursday, February 22nd. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. The firm had revenue of $86.60 million for the quarter, compared to analyst estimates of $88.41 million. Acacia Communications had a return on equity of 12.40% and a net margin of 10.00%. Acacia Communications’s revenue for the quarter was down 39.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 earnings per share. equities research analysts forecast that Acacia Communications, Inc. will post 0.28 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP acquired a new position in Acacia Communications in the third quarter valued at $201,000. Stifel Financial Corp acquired a new position in Acacia Communications in the third quarter valued at $218,000. Pitcairn Co. acquired a new position in Acacia Communications in the third quarter valued at $216,000. Commonwealth Equity Services Inc acquired a new position in Acacia Communications in the third quarter valued at $232,000. Finally, Magnetar Financial LLC acquired a new position in Acacia Communications in the third quarter valued at $238,000. Institutional investors own 62.41% of the company’s stock.
A number of analysts have recently weighed in on ACIA shares. William Blair reaffirmed an “outperform” rating on shares of Acacia Communications in a research report on Wednesday, February 21st. Northland Securities reaffirmed a “buy” rating and set a $50.00 price objective on shares of Acacia Communications in a research report on Monday. MKM Partners reaffirmed a “neutral” rating and set a $61.00 price objective (up previously from $53.00) on shares of Acacia Communications in a research report on Friday, February 23rd. Needham & Company LLC reaffirmed a “hold” rating and set a $38.00 price objective on shares of Acacia Communications in a research report on Friday, February 23rd. Finally, Morgan Stanley lowered Acacia Communications from an “equal weight” rating to an “underweight” rating and set a $37.00 price objective on the stock. in a research report on Friday, March 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $46.82.
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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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