Zurcher Kantonalbank Zurich Cantonalbank Acquires 204,513 Shares of Acacia Communications, Inc. (ACIA)
Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Acacia Communications, Inc. (NASDAQ:ACIA) by 483.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 246,811 shares of the technology company’s stock after purchasing an additional 204,513 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.63% of Acacia Communications worth $11,625,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Parametric Portfolio Associates LLC purchased a new stake in shares of Acacia Communications during the 1st quarter worth about $391,000. American International Group Inc. boosted its stake 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 acquiring an additional 215 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Acacia Communications by 246.5% during the 1st 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 in the last quarter. Vanguard Group Inc. boosted its stake in shares of Acacia Communications by 26.5% during the 1st quarter. Vanguard Group Inc. now owns 1,187,839 shares of the technology company’s stock worth $69,632,000 after acquiring an additional 248,963 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Acacia Communications by 2.1% during the 1st 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 in the last quarter. 84.53% of the stock is currently owned by institutional investors.
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In related news, insider Francis J. Murphy sold 833 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $48.00, for a total value of $39,984.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Bhupendra C. Shah sold 8,300 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $47.81, for a total transaction of $396,823.00. The disclosure for this sale can be found here. Insiders sold a total of 23,481 shares of company stock worth $1,036,684 over the last ninety days. 37.10% of the stock is currently owned by corporate insiders.
ACIA has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Acacia Communications in a research note on Friday, November 3rd. Zacks Investment Research raised shares of Acacia Communications from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 4th. B. Riley reissued a “neutral” rating and set a $44.00 target price on shares of Acacia Communications in a research note on Wednesday, August 9th. DA Davidson lowered their target price on shares of Acacia Communications to $48.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Finally, Cowen Inc raised shares of Acacia Communications to an “outperform” rating and lowered their target price for the stock from $55.00 to $41.00 in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. Acacia Communications presently has a consensus rating of “Buy” and a consensus target price of $50.50.
Acacia Communications, Inc. (NASDAQ ACIA) opened at $39.02 on Friday. The firm has a market cap of $1,536.50, a PE ratio of 13.45, a P/E/G ratio of 2.26 and a beta of 2.85. Acacia Communications, Inc. has a 12 month low of $35.36 and a 12 month high of $79.38.
Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.11. The firm 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 25.29%. Acacia Communications’s quarterly revenue was down 22.4% compared to the same quarter last year. During the same period last year, the company posted $1.01 EPS. analysts predict that Acacia Communications, Inc. will post 1.15 EPS for the current year.
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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