Fmr LLC Boosts Position in Acacia Communications, Inc. (ACIA)
Fmr LLC boosted its position in shares of Acacia Communications, Inc. (NASDAQ:ACIA) by 145.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 826,754 shares of the company’s stock after buying an additional 489,703 shares during the period. Fmr LLC owned approximately 2.21% of Acacia Communications worth $51,052,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Commonwealth Venture GP Partners IV LLC purchased a new position in Acacia Communications during the fourth quarter worth approximately $330,419,000. 1832 Asset Management L.P. purchased a new position in Acacia Communications during the third quarter worth approximately $50,990,000. State Street Corp increased its position in Acacia Communications by 181.7% in the fourth quarter. State Street Corp now owns 206,284 shares of the company’s stock worth $12,736,000 after buying an additional 133,065 shares in the last quarter. Macquarie Group Ltd. purchased a new position in Acacia Communications during the second quarter worth approximately $5,055,000. Finally, BlackRock Group LTD purchased a new position in Acacia Communications during the third quarter worth approximately $3,865,000. Hedge funds and other institutional investors own 66.39% of the company’s stock.
Shares of Acacia Communications, Inc. (NASDAQ:ACIA) opened at 54.09 on Tuesday. The stock has a market cap of $2.08 billion and a price-to-earnings ratio of 16.80. Acacia Communications, Inc. has a 12-month low of $27.05 and a 12-month high of $128.73. The company’s 50-day moving average price is $56.48 and its 200 day moving average price is $75.32.
Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings data on Thursday, February 23rd. The company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.04. The business earned $142.40 million during the quarter, compared to analysts’ expectations of $139.72 million. Acacia Communications had a return on equity of 69.87% and a net margin of 22.18%. Acacia Communications’s revenue for the quarter was up 107.9% compared to the same quarter last year. On average, equities analysts predict that Acacia Communications, Inc. will post $3.35 earnings per share for the current year.
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ACIA has been the subject of a number of research reports. Deutsche Bank AG reiterated a “buy” rating on shares of Acacia Communications in a research report on Wednesday, November 30th. Morgan Stanley initiated coverage on Acacia Communications in a research report on Thursday, December 8th. They set an “equal weight” rating and a $80.00 target price for the company. Zacks Investment Research downgraded Acacia Communications from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 16th. Needham & Company LLC reiterated a “buy” rating and set a $125.00 target price on shares of Acacia Communications in a research report on Wednesday, January 11th. Finally, William Blair reiterated an “outperform” rating on shares of Acacia Communications in a research report on Friday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Acacia Communications currently has a consensus rating of “Buy” and an average price target of $96.43.
In other news, VP Christian J. Rasmussen sold 77,526 shares of the business’s stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $61.16, for a total value of $4,741,490.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Murugesan Shanmugaraj sold 14,000 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $51.71, for a total value of $723,940.00. The disclosure for this sale can be found here. Insiders sold 173,043 shares of company stock valued at $10,334,242 over the last 90 days.
About Acacia Communications
Acacia Communications, Inc is a provider of coherent interconnect products for communications networks relied upon by cloud infrastructure operators and content and communications service providers. The Company’s product family includes AC100-MSA, AC100-CFP, CFP2-ACO and AC400 Flex. Its AC100-MSA product family includes AC100-G, AC100-S and AC100-C.
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