Insider Selling: Acacia Communications, Inc. (ACIA) VP Sells 32,000 Shares of Stock

Acacia Communications, Inc. (NASDAQ:ACIA) VP Christian J. Rasmussen sold 32,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $35.05, for a total transaction of $1,121,600.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Shares of Acacia Communications, Inc. (ACIA) traded up $1.28 during trading on Wednesday, reaching $36.91. 531,320 shares of the company’s stock were exchanged, compared to its average volume of 336,491. Acacia Communications, Inc. has a twelve month low of $34.20 and a twelve month high of $69.57. The firm has a market cap of $1,440.00 and a price-to-earnings ratio of 12.31.

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, beating the Zacks’ consensus estimate of $0.35 by $0.11. Acacia Communications had a net margin of 27.98% and a return on equity of 25.29%. The business had revenue of $105.00 million for the quarter, compared to analyst estimates of $104.35 million. During the same quarter in the prior year, the business posted $1.01 EPS. Acacia Communications’s revenue for the quarter was down 22.4% compared to the same quarter last year. analysts expect that Acacia Communications, Inc. will post 1.15 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the business. First Trust Advisors LP acquired a new position in Acacia Communications during the 3rd quarter valued at approximately $201,000. Pitcairn Co. acquired a new position in Acacia Communications during the 3rd quarter valued at approximately $216,000. Stifel Financial Corp acquired a new position in Acacia Communications during the 3rd quarter valued at approximately $218,000. Commonwealth Equity Services Inc acquired a new position in Acacia Communications during the 3rd quarter valued at approximately $232,000. Finally, Magnetar Financial LLC acquired a new position in Acacia Communications during the 3rd quarter valued at approximately $238,000. Institutional investors and hedge funds own 91.16% of the company’s stock.

ACIA has been the subject of several recent analyst reports. AltaCorp Capital upgraded shares of Acacia Communications from a “neutral” rating to a “buy” rating in a research note on Friday, November 3rd. DA Davidson reduced their price objective on shares of Acacia Communications to $48.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Northland Securities set a $42.00 price objective on shares of Acacia Communications and gave the stock a “buy” rating in a research note on Monday. Loop Capital initiated coverage on shares of Acacia Communications in a research note on Monday. They set a “buy” rating and a $50.00 price objective for the company. Finally, William Blair reiterated a “buy” rating on shares of Acacia Communications in a research note on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $49.60.

ILLEGAL ACTIVITY WARNING: “Insider Selling: Acacia Communications, Inc. (ACIA) VP Sells 32,000 Shares of Stock” was published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of international copyright & trademark laws. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/01/31/insider-selling-acacia-communications-inc-acia-vp-sells-32000-shares-of-stock.html.

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.

Insider Buying and Selling by Quarter for Acacia Communications (NASDAQ:ACIA)

Receive News & Ratings for Acacia Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acacia Communications and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply