BNP Paribas Arbitrage SA raised its stake in shares of Acacia Communications, Inc. (NASDAQ:ACIA) by 877.1% in the first quarter, HoldingsChannel.com reports. The fund owned 6,371 shares of the technology company’s stock after acquiring an additional 5,719 shares during the period. BNP Paribas Arbitrage SA’s holdings in Acacia Communications were worth $365,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Great West Life Assurance Co. Can lifted its holdings in shares of Acacia Communications by 100.6% during the fourth quarter. Great West Life Assurance Co. Can now owns 3,611 shares of the technology company’s stock valued at $132,000 after acquiring an additional 1,811 shares during the period. Advisor Group Inc. increased its stake in shares of Acacia Communications by 1,121.6% in the fourth quarter. Advisor Group Inc. now owns 5,326 shares of the technology company’s stock valued at $202,000 after buying an additional 4,890 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of Acacia Communications in the fourth quarter valued at $206,000. SG Americas Securities LLC acquired a new stake in shares of Acacia Communications in the fourth quarter valued at $210,000. Finally, Ibex Investors LLC acquired a new stake in shares of Acacia Communications in the fourth quarter valued at $213,000. 70.81% of the stock is owned by institutional investors.

Shares of ACIA stock opened at $49.02 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.93 and a quick ratio of 4.65. The stock has a market capitalization of $1.99 billion, a P/E ratio of 326.80, a PEG ratio of 2.88 and a beta of 1.71. Acacia Communications, Inc. has a 12 month low of $31.42 and a 12 month high of $62.18.

Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.26. The firm had revenue of $105.20 million during the quarter, compared to analyst estimates of $101.10 million. Acacia Communications had a return on equity of 4.96% and a net margin of 5.63%. The company’s revenue was up 44.3% on a year-over-year basis. During the same period last year, the company earned $0.10 earnings per share. Equities analysts anticipate that Acacia Communications, Inc. will post 0.92 earnings per share for the current fiscal year.

In related news, VP Mehrdad Givehchi sold 21,000 shares of Acacia Communications stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $58.96, for a total value of $1,238,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Francis J. Murphy sold 503 shares of Acacia Communications stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $54.50, for a total value of $27,413.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,547,495 shares of company stock valued at $81,335,022. Corporate insiders own 9.30% of the company’s stock.

ACIA has been the subject of a number of research reports. MKM Partners raised their target price on Acacia Communications to $60.00 and gave the company a “neutral” rating in a research note on Monday, February 25th. Morgan Stanley lowered Acacia Communications from an “equal weight” rating to an “underweight” rating and raised their target price for the company from $38.00 to $44.00 in a research note on Wednesday, March 27th. Craig Hallum initiated coverage on Acacia Communications in a research note on Monday, March 4th. They issued a “buy” rating for the company. Piper Jaffray Companies upgraded Acacia Communications to an “overweight” rating and set a $59.00 target price for the company in a research note on Friday, February 22nd. Finally, Cowen raised their target price on Acacia Communications from $45.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, February 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Acacia Communications presently has a consensus rating of “Hold” and a consensus target price of $57.36.

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Acacia Communications Company Profile

Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the United States, China, Germany, Thailand, and internationally. The company offers embedded and pluggable module products consisting of optical interconnect modules with transmission speeds ranging from 100 to 1,200 gigabits per second for use in long-haul, metro, and inter-data center markets.

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Institutional Ownership by Quarter for Acacia Communications (NASDAQ:ACIA)

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