Brighton Jones LLC Takes Position in Acacia Communications, Inc. (ACIA)
Brighton Jones LLC acquired a new position in shares of Acacia Communications, Inc. (NASDAQ:ACIA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,193 shares of the technology company’s stock, valued at approximately $257,000.
Other large investors have also recently modified their holdings of the company. FIL Ltd bought a new position in Acacia Communications during the first quarter worth about $13,205,000. Lazard Asset Management LLC bought a new position in Acacia Communications during the first quarter worth about $2,196,000. Grandeur Peak Global Advisors LLC bought a new position in Acacia Communications during the first quarter worth about $497,000. Deane Retirement Strategies Inc. increased its stake in shares of Acacia Communications by 6.9% in the second quarter. Deane Retirement Strategies Inc. now owns 28,732 shares of the technology company’s stock worth $1,192,000 after buying an additional 1,865 shares during the period. Finally, Credit Agricole S A increased its stake in shares of Acacia Communications by 102.2% in the first quarter. Credit Agricole S A now owns 31,850 shares of the technology company’s stock worth $1,866,000 after buying an additional 16,100 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.
Shares of Acacia Communications, Inc. (NASDAQ:ACIA) opened at 49.50 on Wednesday. Acacia Communications, Inc. has a 1-year low of $38.50 and a 1-year high of $128.73. The company has a 50-day moving average price of $43.82 and a 200-day moving average price of $49.08. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 16.93 and a beta of 3.79.
Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.08. The business had revenue of $78.90 million during the quarter, compared to the consensus estimate of $78.17 million. Acacia Communications had a net margin of 29.65% and a return on equity of 34.46%. Acacia Communications’s revenue for the quarter was down 32.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 earnings per share. On average, equities analysts expect that Acacia Communications, Inc. will post $1.88 earnings per share for the current fiscal year.
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ACIA has been the subject of a number of recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of Acacia Communications in a report on Monday, May 8th. Northland Securities set a $50.00 price target on Acacia Communications and gave the stock a “buy” rating in a report on Saturday, July 22nd. Cowen and Company reissued an “outperform” rating and issued a $57.00 target price on shares of Acacia Communications in a report on Monday, July 24th. Zacks Investment Research raised Acacia Communications from a “strong sell” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price (down from $65.00) on shares of Acacia Communications in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $61.89.
In other Acacia Communications news, CEO Murugesan Shanmugaraj sold 2,829 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $44.46, for a total value of $125,777.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Francis J. Murphy sold 8,380 shares of the company’s 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 disclosure for this sale can be found here. Insiders sold 16,089 shares of company stock valued at $743,683 in the last ninety days. Insiders own 37.10% of the company’s stock.
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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