Vanguard Group Inc. increased its stake in Acacia Communications, Inc. (NASDAQ:ACIA) by 12.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,333,370 shares of the technology company’s stock after acquiring an additional 145,531 shares during the period. Vanguard Group Inc. owned approximately 3.45% of Acacia Communications worth $55,295,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ACIA. Bank of New York Mellon Corp boosted its position in shares of Acacia Communications by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 37,528 shares of the technology company’s stock worth $2,200,000 after acquiring an additional 2,340 shares during the last quarter. Parametric Portfolio Associates LLC acquired a new stake in shares of Acacia Communications in the first quarter worth approximately $391,000. American International Group Inc. boosted its position in shares of Acacia Communications by 7.1% in the first quarter. American International Group Inc. now owns 3,225 shares of the technology company’s stock worth $189,000 after acquiring an additional 215 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Acacia Communications by 246.5% in the first quarter. Alliancebernstein L.P. now owns 14,900 shares of the technology company’s stock worth $873,000 after acquiring an additional 10,600 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Acacia Communications by 2.1% in the first quarter. Geode Capital Management LLC now owns 107,673 shares of the technology company’s stock worth $6,311,000 after acquiring an additional 2,184 shares during the last quarter. 82.12% of the stock is currently owned by institutional investors and hedge funds.

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Acacia Communications, Inc. (NASDAQ:ACIA) opened at $36.82 on Friday. The firm has a market cap of $1.54 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.85 and a beta of 2.85.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. The company had revenue of $105.00 million for the quarter, compared to analyst estimates of $104.35 million. Acacia Communications had a net margin of 27.98% and a return on equity of 25.94%. The business’s quarterly revenue was down 22.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 earnings per share. analysts forecast that Acacia Communications, Inc. will post 1.41 earnings per share for the current year.

ACIA has been the topic of several research analyst reports. ValuEngine cut shares of Acacia Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. B. Riley restated a “neutral” rating and issued a $44.50 price target on shares of Acacia Communications in a report on Monday, July 17th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target (down previously from $65.00) on shares of Acacia Communications in a report on Monday, July 17th. William Blair restated an “outperform” rating on shares of Acacia Communications in a report on Monday, July 17th. Finally, Cowen and Company restated an “outperform” rating and issued a $57.00 price target (down previously from $66.00) on shares of Acacia Communications in a report on Monday, July 17th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $50.50.

In other news, insider Francis J. Murphy sold 8,380 shares of Acacia Communications stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $48.00, for a total transaction of $402,240.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Murugesan Shanmugaraj sold 2,829 shares of Acacia Communications stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $44.46, for a total transaction of $125,777.34. The disclosure for this sale can be found here. Insiders have sold 33,843 shares of company stock worth $1,567,441 in the last quarter. Insiders own 37.10% of the company’s stock.

Acacia Communications 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.

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

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