Acacia Communications, Inc. (ACIA) Shares Bought by Boston Partners
Boston Partners raised its position in Acacia Communications, Inc. (NASDAQ:ACIA) by 103.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 227,310 shares of the technology company’s stock after buying an additional 115,740 shares during the period. Boston Partners owned about 0.58% of Acacia Communications worth $10,707,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of ACIA. American International Group Inc. boosted its holdings in shares of Acacia Communications by 7.1% during the 1st quarter. American International Group Inc. now owns 3,225 shares of the technology company’s stock worth $189,000 after purchasing an additional 215 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Acacia Communications during the 3rd quarter worth approximately $201,000. Carl Domino Inc boosted its holdings in shares of Acacia Communications by 22.2% during the 2nd quarter. Carl Domino Inc now owns 5,500 shares of the technology company’s stock worth $228,000 after purchasing an additional 1,000 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Acacia Communications during the 1st quarter worth approximately $234,000. Finally, Thompson Davis & CO. Inc. boosted its holdings in shares of Acacia Communications by 4,100.0% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 5,250 shares of the technology company’s stock worth $247,000 after purchasing an additional 5,125 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.
In related news, VP Bhupendra C. Shah sold 8,300 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $44.59, for a total value of $370,097.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Francis J. Murphy sold 833 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $48.00, for a total value of $39,984.00. The disclosure for this sale can be found here. Insiders sold 23,481 shares of company stock worth $1,036,684 over the last quarter. 37.10% of the stock is currently owned by insiders.
ACIA has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Acacia Communications in a report on Monday, October 23rd. Northland Securities set a $50.00 target price on Acacia Communications and gave the stock a “buy” rating in a report on Saturday, July 22nd. MKM Partners initiated coverage on Acacia Communications in a report on Tuesday, September 19th. They set a “buy” rating and a $64.00 target price on the stock. Cowen and Company upgraded Acacia Communications to an “outperform” rating and lowered their target price for the stock from $55.00 to $41.00 in a report on Friday, November 3rd. Finally, William Blair initiated coverage on Acacia Communications in a report on Tuesday, October 31st. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $50.50.
Acacia Communications, Inc. (ACIA) opened at $36.37 on Thursday. Acacia Communications, Inc. has a twelve month low of $35.36 and a twelve month high of $79.38. The company has a market capitalization of $1,401.83, a P/E ratio of 12.28, a P/E/G ratio of 2.06 and a beta of 2.85.
Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. Acacia Communications had a return on equity of 25.29% and a net margin of 27.98%. The firm had revenue of $105.00 million for the quarter, compared to analysts’ expectations of $104.35 million. During the same period in the prior year, the firm posted $1.01 earnings per share. The firm’s quarterly revenue was down 22.4% on a year-over-year basis. research analysts expect that Acacia Communications, Inc. will post 1.15 EPS for the current fiscal year.
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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