Bhupendra C. Shah Sells 8,277 Shares of Acacia Communications, Inc. (ACIA) Stock
Acacia Communications, Inc. (NASDAQ:ACIA) VP Bhupendra C. Shah sold 8,277 shares of Acacia Communications stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $38.32, for a total value of $317,174.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Bhupendra C. Shah also recently made the following trade(s):
- On Tuesday, November 14th, Bhupendra C. Shah sold 1,231 shares of Acacia Communications stock. The shares were sold at an average price of $36.40, for a total value of $44,808.40.
- On Thursday, September 7th, Bhupendra C. Shah sold 8,300 shares of Acacia Communications stock. The shares were sold at an average price of $44.59, for a total value of $370,097.00.
Acacia Communications, Inc. (ACIA) traded up $0.13 on Tuesday, reaching $40.10. The company’s stock had a trading volume of 520,690 shares, compared to its average volume of 1,048,050. Acacia Communications, Inc. has a 52 week low of $35.36 and a 52 week high of $74.75. The stock has a market capitalization of $1,510.12, a price-to-earnings ratio of 13.22, a PEG ratio of 2.22 and a beta of 2.21.
Institutional investors and hedge funds have recently bought and sold shares of the business. State of Wisconsin Investment Board grew its stake in Acacia Communications by 7.7% in the second quarter. State of Wisconsin Investment Board now owns 70,000 shares of the technology company’s stock valued at $2,903,000 after purchasing an additional 5,000 shares during the last quarter. Koch Industries Inc. grew its stake in shares of Acacia Communications by 9,918.7% during the second quarter. Koch Industries Inc. now owns 522,678 shares of the technology company’s stock worth $510,000 after acquiring an additional 517,461 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Acacia Communications during the second quarter worth about $1,013,000. Oak Ridge Investments LLC purchased a new stake in shares of Acacia Communications during the third quarter worth about $12,992,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Acacia Communications by 15.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,298 shares of the technology company’s stock worth $1,754,000 after acquiring an additional 5,798 shares during the last quarter. Institutional investors own 91.48% of the company’s stock.
ACIA has been the subject of several recent research reports. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Acacia Communications in a report on Friday, November 3rd. Zacks Investment Research upgraded Acacia Communications from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th. B. Riley restated a “neutral” rating and issued a $44.00 price objective on shares of Acacia Communications in a report on Wednesday, August 9th. DA Davidson decreased their price objective on Acacia Communications to $48.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Finally, Cowen upgraded Acacia Communications to an “outperform” rating and cut their target price for the company from $55.00 to $41.00 in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $50.50.
TRADEMARK VIOLATION NOTICE: This news story was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this news story on another domain, it was copied illegally and republished in violation of US and international trademark & copyright laws. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/12/05/bhupendra-c-shah-sells-8277-shares-of-acacia-communications-inc-acia-stock.html.
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.
Receive News & Ratings for Acacia Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acacia Communications Inc. and related companies with MarketBeat.com's FREE daily email newsletter.