Acacia Communications, Inc. (NASDAQ:ACIA) VP Bhupendra C. Shah sold 1,231 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $36.40, for a total transaction of $44,808.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $44.59, for a total transaction of $370,097.00.
Shares of Acacia Communications, Inc. (ACIA) traded down $0.05 during midday trading on Friday, hitting $37.55. 516,215 shares of the stock were exchanged, compared to its average volume of 1,079,447. The firm has a market cap of $1,480.00 and a P/E ratio of 12.28. Acacia Communications, Inc. has a fifty-two week low of $35.36 and a fifty-two week high of $79.38.
Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.11. The business had revenue of $105.00 million during the quarter, compared to the consensus estimate of $104.35 million. Acacia Communications had a net margin of 27.98% and a return on equity of 25.29%. The business’s revenue was down 22.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 EPS. analysts predict that Acacia Communications, Inc. will post 1.15 earnings per share for the current year.
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Institutional investors have recently bought and sold shares of the stock. American International Group Inc. increased its holdings in Acacia Communications by 7.1% in the 1st quarter. American International Group Inc. now owns 3,225 shares of the technology company’s stock valued at $189,000 after purchasing an additional 215 shares during the last quarter. First Trust Advisors LP acquired a new stake in Acacia Communications in the 3rd quarter valued at approximately $201,000. Pitcairn Co. acquired a new stake in Acacia Communications in the 3rd quarter valued at approximately $216,000. Stifel Financial Corp acquired a new stake in Acacia Communications in the 3rd quarter valued at approximately $218,000. Finally, Carl Domino Inc increased its holdings in Acacia Communications by 22.2% in the 2nd quarter. Carl Domino Inc now owns 5,500 shares of the technology company’s stock valued at $228,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.
ACIA has been the topic of a number of research reports. Zacks Investment Research raised shares of Acacia Communications from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of Acacia Communications in a report on Friday, November 3rd. B. Riley restated a “neutral” rating and set a $44.00 price target on shares of Acacia Communications in a report on Wednesday, August 9th. Cowen and Company restated an “outperform” rating and set a $57.00 price target on shares of Acacia Communications in a report on Monday, July 24th. Finally, DA Davidson cut their price target on shares of Acacia Communications to $48.00 and set a “buy” rating for the company in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. Acacia Communications presently has an average rating of “Buy” and an average price target of $50.50.
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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