John F. Gavin Sells 858 Shares of Acacia Communications, Inc. (ACIA) Stock
Acacia Communications, Inc. (NASDAQ:ACIA) CFO John F. Gavin sold 858 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $44.46, for a total value of $38,146.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Acacia Communications, Inc. (ACIA) traded up 0.07% during midday trading on Tuesday, hitting $43.71. 593,041 shares of the company were exchanged. The stock has a 50 day moving average of $43.02 and a 200-day moving average of $49.78. Acacia Communications, Inc. has a 1-year low of $38.50 and a 1-year high of $128.73. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 14.95 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 EPS for the quarter, beating 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 firm had revenue of $78.90 million for the quarter, compared to analysts’ expectations of $78.17 million. During the same quarter in the prior year, the company posted $0.77 earnings per share. The business’s revenue for the quarter was down 32.0% on a year-over-year basis. Equities analysts expect that Acacia Communications, Inc. will post $1.88 earnings per share for the current year.
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A number of large investors have recently modified their holdings of ACIA. Koch Industries Inc. boosted its stake in shares of Acacia Communications by 9,918.7% in the second quarter. Koch Industries Inc. now owns 522,678 shares of the technology company’s stock valued at $510,000 after buying an additional 517,461 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Acacia Communications by 218.9% in the second quarter. California State Teachers Retirement System now owns 32,780 shares of the technology company’s stock valued at $1,359,000 after buying an additional 22,500 shares in the last quarter. State Street Corp boosted its stake in shares of Acacia Communications by 199.1% in the second quarter. State Street Corp now owns 357,946 shares of the technology company’s stock valued at $14,844,000 after buying an additional 238,270 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Acacia Communications by 12.1% in the second quarter. Royal Bank of Canada now owns 13,966 shares of the technology company’s stock valued at $579,000 after buying an additional 1,511 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Acacia Communications by 47.6% in the second quarter. Capital Research Global Investors now owns 3,351,605 shares of the technology company’s stock valued at $138,991,000 after buying an additional 1,080,126 shares in the last quarter. Institutional investors own 86.54% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Morgan Stanley downgraded Acacia Communications from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $70.00 to $45.00 in a research note on Thursday, May 11th. Northland Securities set a $50.00 target price on Acacia Communications and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Cowen and Company restated an “outperform” rating and issued a $57.00 target price (down previously from $66.00) on shares of Acacia Communications in a research note on Monday, July 17th. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price (down previously from $65.00) on shares of Acacia Communications in a research note on Monday, July 17th. Finally, B. Riley restated a “neutral” rating and issued a $44.00 target price on shares of Acacia Communications in a research note on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $61.89.
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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