TIAA CREF Investment Management LLC reduced its stake in Acacia Communications, Inc. (NASDAQ:ACIA) by 92.6% during the first quarter, Holdings Channel reports. The firm owned 21,468 shares of the technology company’s stock after selling 269,549 shares during the period. TIAA CREF Investment Management LLC’s holdings in Acacia Communications were worth $1,258,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. IPG Investment Advisors LLC purchased a new stake in shares of Acacia Communications during the first quarter valued at about $557,000. FIL Ltd purchased a new stake in shares of Acacia Communications during the first quarter valued at about $13,205,000. FMR LLC boosted its stake in shares of Acacia Communications by 61.2% in the first quarter. FMR LLC now owns 1,332,907 shares of the technology company’s stock valued at $78,135,000 after buying an additional 506,153 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Acacia Communications during the first quarter valued at about $72,279,000. Finally, Credit Agricole S A boosted 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 valued at $1,866,000 after buying an additional 16,100 shares during the period. 86.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Acacia Communications, Inc. (NASDAQ:ACIA) traded down 1.35% during midday trading on Tuesday, reaching $43.09. The company’s stock had a trading volume of 35,112 shares. The company has a 50 day moving average price of $43.02 and a 200-day moving average price of $49.78. The stock has a market capitalization of $1.69 billion, a PE ratio of 14.74 and a beta of 3.79. Acacia Communications, Inc. has a 52 week low of $38.50 and a 52 week high of $128.73.

Acacia Communications (NASDAQ:ACIA) last released its 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. Acacia Communications had a net margin of 29.65% and a return on equity of 34.46%. The business had revenue of $78.90 million for the quarter, compared to analyst estimates of $78.17 million. During the same period last year, the company posted $0.77 EPS. The business’s revenue was down 32.0% on a year-over-year basis. On average, equities research analysts expect that Acacia Communications, Inc. will post $1.88 EPS for the current year.

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Several equities research analysts have recently issued reports on the company. B. Riley reaffirmed a “neutral” rating and issued a $44.00 target price on shares of Acacia Communications in a report on Wednesday, August 9th. Cowen and Company reaffirmed a “buy” rating and issued a $55.00 target price (down from $57.00) on shares of Acacia Communications in a report on Friday, August 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Acacia Communications in a report on Friday, August 4th. 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. Finally, William Blair reaffirmed an “outperform” rating on shares of Acacia Communications in a report on Monday, July 17th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $61.89.

In other Acacia Communications news, insider Francis J. Murphy sold 8,380 shares of the firm’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 value of $402,240.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 9,095 shares of company stock worth $432,729 over the last three months.

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

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