Acacia Communications, Inc. (NASDAQ:ACIA) shares traded up 0% during trading on Thursday . The company traded as high as $39.75 and last traded at $39.54. 889,538 shares were traded during mid-day trading, an increase of 146% from the average session volume of 361,629 shares. The stock had previously closed at $39.54.

A number of research analysts have commented on the stock. Northland Securities set a $42.00 price objective on shares of Acacia Communications and gave the company a “buy” rating in a research note on Monday, January 29th. Loop Capital assumed coverage on shares of Acacia Communications in a research note on Monday, January 29th. They issued a “buy” rating and a $50.00 price objective on the stock. Cowen upgraded shares of Acacia Communications to an “outperform” rating and dropped their price objective for the company from $55.00 to $41.00 in a research note on Friday, November 3rd. UBS Group assumed coverage on shares of Acacia Communications in a research note on Wednesday. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, AltaCorp Capital upgraded shares of Acacia Communications from a “neutral” rating to a “buy” rating in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. Acacia Communications presently has a consensus rating of “Buy” and a consensus price target of $49.60.

The stock has a market capitalization of $1,460.00 and a P/E ratio of 12.92.

Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. Acacia Communications had a net margin of 27.98% and a return on equity of 25.29%. The business had revenue of $105.00 million for the quarter, compared to analyst estimates of $104.35 million. During the same period in the previous year, the business posted $1.01 earnings per share. The business’s revenue was down 22.4% compared to the same quarter last year. equities analysts expect that Acacia Communications, Inc. will post 1.15 earnings per share for the current year.

In other Acacia Communications news, VP Bhupendra C. Shah sold 8,277 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $38.32, for a total value of $317,174.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Mehrdad Givehchi sold 48,722 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $36.80, for a total transaction of $1,792,969.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,770 shares of company stock worth $3,709,696. 37.10% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of Acacia Communications by 14.5% in the third quarter. Bank of New York Mellon Corp now owns 91,286 shares of the technology company’s stock valued at $4,300,000 after buying an additional 11,526 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Acacia Communications in the third quarter valued at approximately $3,358,000. Koch Industries Inc. raised its position in shares of Acacia Communications by 9,918.7% in the second quarter. Koch Industries Inc. now owns 522,678 shares of the technology company’s stock valued at $510,000 after buying an additional 517,461 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Acacia Communications in the third quarter valued at approximately $4,386,000. Finally, Oak Ridge Investments LLC acquired a new position in shares of Acacia Communications in the third quarter valued at approximately $12,992,000. 91.16% of the stock is owned by institutional investors and hedge funds.

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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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