Credit Capital Investments LLC Holds Position in Acacia Communications, Inc. (ACIA)
Credit Capital Investments LLC held its stake in Acacia Communications, Inc. (NASDAQ:ACIA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,000 shares of the technology company’s stock at the close of the 2nd quarter. Credit Capital Investments LLC’s holdings in Acacia Communications were worth $207,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. American International Group Inc. increased its stake in Acacia Communications by 7.1% in the first quarter. American International Group Inc. now owns 3,225 shares of the technology company’s stock valued at $189,000 after purchasing an additional 215 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Acacia Communications during the first quarter valued at about $234,000. Cipher Capital LP bought a new position in shares of Acacia Communications during the 1st quarter worth about $249,000. Koch Industries Inc. bought a new position in shares of Acacia Communications during the 1st quarter worth about $306,000. Finally, Carl Domino Inc boosted its position in shares of Acacia Communications by 22.2% during the 2nd quarter. Carl Domino Inc now owns 5,500 shares of the technology company’s stock worth $228,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 81.84% of the company’s stock.
In other news, insider Francis J. Murphy sold 833 shares of Acacia Communications stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $48.00, for a total transaction of $39,984.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christian J. Rasmussen sold 3,307 shares of Acacia Communications stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $44.46, for a total transaction of $147,029.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,917 shares of company stock worth $1,141,097. Corporate insiders own 37.10% of the company’s stock.
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Shares of Acacia Communications, Inc. (NASDAQ:ACIA) traded down 0.304% on Tuesday, hitting $47.864. 148,190 shares of the stock were exchanged. Acacia Communications, Inc. has a 12 month low of $44.00 and a 12 month high of $116.50. The company has a market cap of $1.88 billion, a PE ratio of 16.369 and a beta of 3.31. The company has a 50-day moving average price of $46.21 and a 200 day moving average price of $46.21.
Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. Acacia Communications had a net margin of 29.65% and a return on equity of 34.46%. The company had revenue of $78.90 million during the quarter, compared to analysts’ expectations of $78.17 million. During the same period last year, the company posted $0.77 EPS. Acacia Communications’s revenue was down 32.0% on a year-over-year basis. Equities analysts forecast that Acacia Communications, Inc. will post $1.88 EPS for the current fiscal year.
Several brokerages have recently commented on ACIA. Northland Securities set a $50.00 target price on Acacia Communications and gave the company a “buy” rating in a research note on Saturday, July 22nd. Cowen and Company reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Acacia Communications in a research report on Monday, July 24th. Zacks Investment Research raised Acacia Communications from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target (down from $65.00) on shares of Acacia Communications in a research note on Monday, July 17th. Finally, William Blair reiterated an “outperform” rating on shares of Acacia Communications in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $54.56.
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.
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