Acacia Communications, Inc. (ACIA) Insider Sells $105,596.40 in Stock
Acacia Communications, Inc. (NASDAQ:ACIA) insider Benny P. Mikkelsen sold 2,901 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $36.40, for a total transaction of $105,596.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Acacia Communications, Inc. (ACIA) traded down $1.19 during trading hours on Wednesday, reaching $35.60. 322,300 shares of the company’s stock were exchanged, compared to its average volume of 1,087,940. The stock has a market capitalization of $1,420.00 and a price-to-earnings ratio of 12.69. Acacia Communications, Inc. has a one year low of $35.53 and a one year 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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.11. The company 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%. The business’s revenue for the quarter was down 22.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 earnings per share. equities analysts predict that Acacia Communications, Inc. will post 1.15 earnings per share for the current year.
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ACIA has been the topic of several recent research reports. B. Riley reissued a “neutral” rating and set a $44.50 price target on shares of Acacia Communications in a research report on Saturday, July 22nd. Northland Securities set a $50.00 price target on shares of Acacia Communications and gave the company a “buy” rating in a research report on Saturday, July 22nd. Cowen and Company reissued an “outperform” rating and set a $57.00 price target on shares of Acacia Communications in a research report on Monday, July 24th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Acacia Communications in a report on Friday, August 4th. Finally, Zacks Investment Research lowered shares of Acacia Communications from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $50.50.
About Acacia Communications
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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