State Board of Administration of Florida Retirement System grew its position in shares of Acacia Communications, Inc. (NASDAQ:ACIA) by 2.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,951 shares of the technology company’s stock after purchasing an additional 310 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Acacia Communications were worth $628,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ACIA. Picton Mahoney Asset Management bought a new stake in shares of Acacia Communications in the fourth quarter worth $2,011,000. Millennium Management LLC increased its stake in shares of Acacia Communications by 354.2% in the fourth quarter. Millennium Management LLC now owns 639,280 shares of the technology company’s stock worth $24,293,000 after buying an additional 498,540 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Acacia Communications by 44.6% in the fourth quarter. Rhumbline Advisers now owns 39,809 shares of the technology company’s stock worth $1,513,000 after buying an additional 12,278 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Acacia Communications by 356.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,018 shares of the technology company’s stock worth $343,000 after buying an additional 7,043 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of Acacia Communications by 128.5% in the third quarter. Morgan Stanley now owns 204,824 shares of the technology company’s stock worth $8,474,000 after buying an additional 115,190 shares during the last quarter. Institutional investors own 75.69% of the company’s stock.

A number of analysts recently issued reports on ACIA shares. MKM Partners lifted their price target on shares of Acacia Communications to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 25th. Morgan Stanley lowered shares of Acacia Communications from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $38.00 to $44.00 in a research note on Wednesday, March 27th. Craig Hallum initiated coverage on shares of Acacia Communications in a research note on Monday, March 4th. They issued a “buy” rating for the company. Piper Jaffray Companies upgraded shares of Acacia Communications to an “overweight” rating and set a $59.00 target price for the company in a research note on Friday, February 22nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Acacia Communications in a report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $57.36.

In other news, VP Christian J. Rasmussen sold 80,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $53.27, for a total value of $4,261,600.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO John F. Gavin sold 23,206 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $53.16, for a total value of $1,233,630.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 279,848 shares of company stock worth $14,979,096. Corporate insiders own 9.30% of the company’s stock.

NASDAQ ACIA opened at $46.50 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.65 and a current ratio of 4.93. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 310.00, a P/E/G ratio of 2.73 and a beta of 1.88. Acacia Communications, Inc. has a 1 year low of $31.42 and a 1 year 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.26. The firm had revenue of $105.20 million for the quarter, compared to the consensus estimate of $101.10 million. Acacia Communications had a return on equity of 4.96% and a net margin of 5.63%. The business’s revenue for the quarter was up 44.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 EPS. On average, sell-side analysts expect that Acacia Communications, Inc. will post 0.92 earnings per share for the current year.

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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.

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

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