Hamilton Lane Advisors LLC boosted its stake in shares of Acacia Communications, Inc. (NASDAQ:ACIA) by 177.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,582 shares of the technology company’s stock after buying an additional 82,891 shares during the period. Acacia Communications makes up approximately 2.9% of Hamilton Lane Advisors LLC’s portfolio, making the stock its 8th largest position. Hamilton Lane Advisors LLC owned approximately 0.34% of Acacia Communications worth $5,374,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACIA. American International Group Inc. increased its position in Acacia Communications by 7.1% in the first quarter. American International Group Inc. now owns 3,225 shares of the technology company’s stock valued at $189,000 after buying an additional 215 shares in the last quarter. Tealwood Asset Management Inc. increased its position in Acacia Communications by 1.8% in the second quarter. Tealwood Asset Management Inc. now owns 33,350 shares of the technology company’s stock valued at $1,383,000 after buying an additional 575 shares in the last quarter. Carl Domino Inc increased its position in Acacia Communications by 22.2% in the second quarter. Carl Domino Inc now owns 5,500 shares of the technology company’s stock valued at $228,000 after buying an additional 1,000 shares in the last quarter. Dumont & Blake Investment Advisors LLC increased its position in Acacia Communications by 38.9% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 5,000 shares of the technology company’s stock valued at $293,000 after buying an additional 1,400 shares in the last quarter. Finally, Deane Retirement Strategies Inc. increased its position in Acacia Communications by 6.9% in the second quarter. Deane Retirement Strategies Inc. now owns 28,732 shares of the technology company’s stock valued at $1,192,000 after buying an additional 1,865 shares in the last quarter. 88.35% of the stock is owned by institutional investors.
Shares of Acacia Communications, Inc. (NASDAQ:ACIA) opened at 43.55 on Friday. Acacia Communications, Inc. has a 52-week low of $38.50 and a 52-week high of $128.73. The firm’s 50-day moving average is $42.78 and its 200-day moving average is $51.19. The firm has a market cap of $1.68 billion, a P/E ratio of 12.82 and a beta of 3.81.
Acacia Communications (NASDAQ:ACIA) last released its earnings results on Tuesday, May 9th. The technology company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.34. The company had revenue of $114.67 million during the quarter, compared to the consensus estimate of $112.46 million. Acacia Communications had a return on equity of 43.80% and a net margin of 30.02%. Acacia Communications’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. Analysts anticipate that Acacia Communications, Inc. will post $1.90 earnings per share for the current year.
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Several research analysts have recently issued reports on the company. B. Riley reaffirmed a “neutral” rating and issued a $47.00 price objective on shares of Acacia Communications in a research note on Saturday, May 13th. Cowen and Company lowered their price objective on Acacia Communications from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Wednesday, May 10th. Deutsche Bank AG set a $60.00 price objective on Acacia Communications and gave the company a “buy” rating in a research note on Wednesday, May 10th. William Blair reaffirmed a “buy” rating on shares of Acacia Communications in a research note on Thursday, June 15th. Finally, ValuEngine downgraded Acacia Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $62.17.
In other Acacia Communications news, VP Mehrdad Givehchi sold 25,830 shares of Acacia Communications stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $46.54, for a total value of $1,202,128.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Murugesan Shanmugaraj sold 8,983 shares of Acacia Communications stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $48.52, for a total value of $435,855.16. The disclosure for this sale can be found here. Insiders sold a total of 86,179 shares of company stock valued at $4,071,500 in the last 90 days.
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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