8,314 Shares in Acacia Communications, Inc. (NASDAQ:ACIA) Purchased by Cooper Creek Partners Management LLC
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.
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.
ILLEGAL ACTIVITY WARNING: “8,314 Shares in Acacia Communications, Inc. (NASDAQ:ACIA) Purchased by Cooper Creek Partners Management LLC” was originally published by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://www.watchlistnews.com/8314-shares-in-acacia-communications-inc-nasdaqacia-purchased-by-cooper-creek-partners-management-llc/3043477.html.
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.
Further Reading: What type of investment options does a Roth IRA provide?
Want to see what other hedge funds are holding ACIA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acacia Communications, Inc. (NASDAQ:ACIA).
Receive News & Ratings for Acacia Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acacia Communications and related companies with MarketBeat.com's FREE daily email newsletter.