18,000 Shares in Acacia Communications, Inc. (ACIA) Purchased by Engineers Gate Manager LP
Engineers Gate Manager LP bought a new position in shares of Acacia Communications, Inc. (NASDAQ:ACIA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,000 shares of the technology company’s stock, valued at approximately $627,000.
Other large investors have also modified their holdings of the company. First Mercantile Trust Co. acquired a new stake in shares of Acacia Communications during the first quarter worth $192,000. BNP Paribas Arbitrage SA raised its holdings in shares of Acacia Communications by 62.2% during the second quarter. BNP Paribas Arbitrage SA now owns 7,186 shares of the technology company’s stock worth $250,000 after purchasing an additional 2,755 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Acacia Communications in the 2nd quarter worth about $278,000. Legal & General Group Plc increased its holdings in shares of Acacia Communications by 32.9% in the 1st quarter. Legal & General Group Plc now owns 8,732 shares of the technology company’s stock worth $336,000 after acquiring an additional 2,164 shares during the period. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of Acacia Communications in the 4th quarter worth about $321,000. 86.09% of the stock is currently owned by institutional investors.
A number of research firms recently weighed in on ACIA. Zacks Investment Research raised shares of Acacia Communications from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Wednesday, August 8th. Deutsche Bank increased their price objective on shares of Acacia Communications to $45.00 and gave the stock a “buy” rating in a report on Monday, August 6th. Rosenblatt Securities set a $46.00 price objective on shares of Acacia Communications and gave the stock a “buy” rating in a report on Sunday, August 5th. Cowen reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Acacia Communications in a report on Friday, August 3rd. Finally, B. Riley increased their price objective on shares of Acacia Communications from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $38.75.
Acacia Communications (NASDAQ:ACIA) last released its earnings results on Thursday, August 2nd. The technology company reported ($0.08) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.08). The firm had revenue of $65.00 million for the quarter, compared to analysts’ expectations of $63.35 million. Acacia Communications had a negative net margin of 4.30% and a positive return on equity of 2.66%. Acacia Communications’s quarterly revenue was down 17.6% on a year-over-year basis. During the same quarter last year, the company earned $0.26 EPS. analysts expect that Acacia Communications, Inc. will post -0.13 earnings per share for the current year.
In other Acacia Communications news, VP Mehrdad Givehchi sold 2,707 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $39.32, for a total transaction of $106,439.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Murugesan Shanmugaraj sold 2,708 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $39.32, for a total transaction of $106,478.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,688 shares of company stock worth $258,998. 33.20% of the stock is owned by corporate insiders.
Acacia Communications Profile
Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific region. Its products include a series of low-power coherent digital signal processor application-specific integrated circuits and silicon photonic integrated circuits that are integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per second for use in long-haul, metro, and inter-data center markets.
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