Koch Industries Inc. bought a new position in shares of Acacia Communications, Inc. (NASDAQ:ACIA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,868 shares of the technology company’s stock, valued at approximately $285,000.
Other hedge funds have also recently bought and sold shares of the company. Wells Fargo & Company MN lifted its holdings in shares of Acacia Communications by 5.3% during the 3rd quarter. Wells Fargo & Company MN now owns 36,468 shares of the technology company’s stock valued at $1,717,000 after buying an additional 1,839 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Acacia Communications by 24.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 18,525 shares of the technology company’s stock worth $671,000 after purchasing an additional 3,623 shares during the period. First Trust Advisors LP bought a new stake in Acacia Communications during the third quarter valued at about $201,000. Stifel Financial Corp bought a new stake in Acacia Communications during the third quarter valued at about $218,000. Finally, Commonwealth Equity Services Inc bought a new stake in Acacia Communications during the third quarter valued at about $232,000. Hedge funds and other institutional investors own 62.41% of the company’s stock.
Shares of ACIA traded down $0.13 during mid-day trading on Friday, hitting $35.89. 315,723 shares of the company were exchanged, compared to its average volume of 522,876. Acacia Communications, Inc. has a 1-year low of $33.68 and a 1-year high of $57.78. The company has a market cap of $1,427.91, a PE ratio of 30.16, a price-to-earnings-growth ratio of 6.24 and a beta of 0.88.
Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. Acacia Communications had a net margin of 10.00% and a return on equity of 12.40%. The company had revenue of $86.60 million during the quarter, compared to analysts’ expectations of $88.41 million. During the same quarter in the prior year, the company earned $0.94 EPS. Acacia Communications’s revenue was down 39.2% compared to the same quarter last year. sell-side analysts expect that Acacia Communications, Inc. will post 0.28 earnings per share for the current year.
A number of research analysts have recently weighed in on ACIA shares. Morgan Stanley set a $37.00 price objective on Acacia Communications and gave the company a “hold” rating in a research report on Friday, February 23rd. Needham & Company LLC reissued a “hold” rating and issued a $38.00 price objective on shares of Acacia Communications in a research note on Friday, February 23rd. Northland Securities set a $42.00 price objective on shares of Acacia Communications and gave the stock a “buy” rating in a research note on Monday, January 29th. Loop Capital initiated coverage on shares of Acacia Communications in a research note on Monday, January 29th. They set a “buy” rating and a $50.00 price target for the company. Finally, UBS set a $48.00 price objective on shares of Acacia Communications and gave the stock a “buy” rating in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $46.82.
In related news, VP Bhupendra C. Shah sold 893 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $38.48, for a total transaction of $34,362.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Murugesan Shanmugaraj sold 6,975 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $38.23, for a total transaction of $266,654.25. The disclosure for this sale can be found here. In the last three months, insiders sold 148,470 shares of company stock valued at $5,789,972. Corporate insiders own 37.10% of the company’s stock.
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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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