Cooper Creek Partners Management LLC purchased a new stake in Acacia Communications, Inc. (NASDAQ:ACIA) during the first quarter, HoldingsChannel reports. The firm purchased 8,314 shares of the technology company’s stock, valued at approximately $477,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. raised its stake in Acacia Communications by 0.3% in the 1st quarter. BlackRock Inc. now owns 2,006,757 shares of the technology company’s stock valued at $115,087,000 after acquiring an additional 6,491 shares during the period. Millennium Management LLC raised its stake in Acacia Communications by 354.2% in the 4th quarter. Millennium Management LLC now owns 639,280 shares of the technology company’s stock valued at $24,293,000 after acquiring an additional 498,540 shares during the period. AO Asset Management LP bought a new stake in Acacia Communications in the 1st quarter valued at $35,265,000. D. E. Shaw & Co. Inc. raised its stake in Acacia Communications by 154.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 555,351 shares of the technology company’s stock valued at $21,103,000 after acquiring an additional 337,037 shares during the period. Finally, Amundi Pioneer Asset Management Inc. raised its stake in Acacia Communications by 29.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 506,360 shares of the technology company’s stock valued at $29,040,000 after acquiring an additional 113,995 shares during the period. Institutional investors and hedge funds own 75.69% of the company’s stock.

A number of equities research analysts recently weighed in on the company. ValuEngine cut Acacia Communications from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 17th. Zacks Investment Research cut Acacia Communications from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 10th. Bank of America upgraded Acacia Communications from an “underperform” rating to a “neutral” rating and set a $56.60 price target on the stock in a research note on Monday, May 6th. Needham & Company LLC reiterated a “hold” rating on shares of Acacia Communications in a research report on Tuesday, April 30th. Finally, B. Riley cut Acacia Communications from a “buy” rating to a “neutral” rating in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $57.36.

In other news, CEO Murugesan Shanmugaraj sold 4,544 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $56.05, for a total transaction of $254,691.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Mehrdad Givehchi sold 1,629 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $56.05, for a total value of $91,305.45. The disclosure for this sale can be found here. Insiders have sold a total of 178,922 shares of company stock worth $9,332,300 in the last quarter. Company insiders own 9.30% of the company’s stock.

ACIA stock traded down $1.65 during trading hours on Friday, hitting $44.94. 609,079 shares of the stock were exchanged, compared to its average volume of 795,516. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.93 and a quick ratio of 4.65. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 299.60, a PEG ratio of 2.64 and a beta of 1.88. Acacia Communications, Inc. has a 12 month low of $31.42 and a 12 month high of $62.18.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.26. The firm had revenue of $105.20 million for the quarter, compared to analysts’ expectations of $101.10 million. Acacia Communications had a return on equity of 4.96% and a net margin of 5.63%. The company’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 EPS. Research analysts expect that Acacia Communications, Inc. will post 0.92 EPS for the current year.

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Acacia Communications Company Profile

Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the United States, China, Germany, Thailand, and internationally. The company offers embedded and pluggable module products consisting of optical interconnect modules with transmission speeds ranging from 100 to 1,200 gigabits per second for use in long-haul, metro, and inter-data center markets.

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Institutional Ownership by Quarter for Acacia Communications (NASDAQ:ACIA)

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