Acacia Communications Inc. (ACIA) Major Shareholder Matrix Partners Viii L. P Sells 1,445,307 Shares
Acacia Communications Inc. (NASDAQ:ACIA) major shareholder Matrix Partners Viii L. P sold 1,445,307 shares of the firm’s stock in a transaction that occurred on Thursday, October 13th. The shares were sold at an average price of $96.50, for a total transaction of $139,472,125.50. Following the transaction, the insider now owns 10,646,247 shares in the company, valued at approximately $1,027,362,835.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Acacia Communications Inc. (NASDAQ:ACIA) opened at 92.01 on Monday. The firm has a 50-day moving average of $107.56 and a 200 day moving average of $71.80. Acacia Communications Inc. has a 52-week low of $27.05 and a 52-week high of $128.73. The firm has a market cap of $3.29 billion and a price-to-earnings ratio of 61.42.
Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings results on Thursday, August 11th. The company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.47. The firm earned $116.20 million during the quarter, compared to analyst estimates of $57.90 million. The business’s revenue was up 101.0% compared to the same quarter last year. On average, equities research analysts forecast that Acacia Communications Inc. will post $2.76 earnings per share for the current year.
A number of research firms recently commented on ACIA. Deutsche Bank AG raised their price objective on shares of Acacia Communications from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, September 9th. Bank of America Corp. reiterated a “buy” rating and set a $130.00 price objective (up previously from $88.00) on shares of Acacia Communications in a research note on Sunday, September 4th. Zacks Investment Research upgraded shares of Acacia Communications from a “hold” rating to a “strong-buy” rating and set a $122.00 price objective on the stock in a research note on Tuesday, September 13th. Needham & Company LLC raised their price objective on shares of Acacia Communications from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, October 11th. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Acacia Communications in a research note on Wednesday, October 12th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Acacia Communications currently has a consensus rating of “Buy” and a consensus price target of $99.00.
A number of institutional investors have recently added to or reduced their stakes in the stock. Webster Bank N. A. purchased a new position in Acacia Communications during the third quarter worth approximately $239,000. American International Group Inc. purchased a new position in Acacia Communications during the second quarter worth approximately $120,000. Rhumbline Advisers purchased a new position in Acacia Communications during the second quarter worth approximately $201,000. Cubist Systematic Strategies LLC purchased a new position in Acacia Communications during the second quarter worth approximately $229,000. Finally, Panagora Asset Management Inc. purchased a new position in Acacia Communications during the second quarter worth approximately $254,000. Hedge funds and other institutional investors own 46.97% of the company’s stock.
Acacia Communications Company Profile
Acacia Communications, Inc is engaged in delivering coherent optical interconnect products. The Company offers its products for communications networks, relied upon by cloud infrastructure operators, and content and communication service providers. Its 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 40 to 400 gigabits per second (Gbps) for use in metro and inter-data center markets.
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