Acacia Communications, Inc. (ACIA) VP Bhupendra C. Shah Sells 8,300 Shares
Acacia Communications, Inc. (NASDAQ:ACIA) VP Bhupendra C. Shah sold 8,300 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $47.81, for a total value of $396,823.00. The sale 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 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. (NASDAQ:ACIA) traded down 1.66% during mid-day trading on Wednesday, hitting $47.46. The stock had a trading volume of 392,236 shares. Acacia Communications, Inc. has a 52 week low of $44.00 and a 52 week high of $116.50. The company’s 50 day moving average price is $46.33 and its 200 day moving average price is $46.33. The firm has a market cap of $1.86 billion, a PE ratio of 16.23 and a beta of 3.27.
Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.18 by $0.08. The firm had revenue of $78.90 million for the quarter, compared to analyst estimates of $78.17 million. Acacia Communications had a return on equity of 3.88% and a net margin of 5.91%. The company’s revenue was down 32.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 EPS. Analysts anticipate that Acacia Communications, Inc. will post $1.88 earnings per share for the current year.
A number of research analysts have issued reports on ACIA shares. William Blair reiterated a “buy” rating on shares of Acacia Communications in a research report on Thursday, June 15th. Northland Securities set a $50.00 target price on Acacia Communications and gave the company a “buy” rating in a research report on Saturday, July 22nd. Cowen and Company reiterated an “outperform” rating and issued a $57.00 target price (down previously from $66.00) on shares of Acacia Communications in a research report on Monday, July 17th. DA Davidson started coverage on Acacia Communications in a research report on Thursday, June 22nd. They issued a “buy” rating and a $61.00 target price on the stock. Finally, Zacks Investment Research upgraded Acacia Communications from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 29th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Acacia Communications presently has an average rating of “Buy” and an average target price of $54.56.
Institutional investors have recently made changes to their positions in the company. American International Group Inc. increased its position in shares of Acacia Communications by 7.1% during the 1st 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 during the last quarter. Carl Domino Inc increased 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 valued at $228,000 after purchasing an additional 1,000 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in shares of Acacia Communications during the 1st quarter valued at about $234,000. Cipher Capital LP bought a new position in shares of Acacia Communications during the 1st quarter valued at about $249,000. Finally, Koshinski Asset Management Inc. increased its position in shares of Acacia Communications by 75.2% during the 2nd quarter. Koshinski Asset Management Inc. now owns 6,150 shares of the technology company’s stock valued at $255,000 after purchasing an additional 2,640 shares during the last quarter. Hedge funds and other institutional investors own 81.84% of the company’s stock.
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.
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