Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Acacia Communications, Inc. (NASDAQ:ACIA) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 36,500 shares of the technology company’s stock, valued at approximately $2,140,000. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.09% of Acacia Communications as of its most recent filing with the SEC.
Other large investors 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 valued at $330,419,000. FMR LLC raised its position in Acacia Communications by 145.3% in the fourth quarter. FMR LLC now owns 826,754 shares of the technology company’s stock valued at $51,052,000 after buying an additional 489,703 shares during the last quarter. KAMES CAPITAL plc purchased a new position in Acacia Communications during the first quarter valued at $39,317,000. Macquarie Group Ltd. raised its position in Acacia Communications by 24.2% in the fourth quarter. Macquarie Group Ltd. now owns 636,239 shares of the technology company’s stock valued at $39,288,000 after buying an additional 123,854 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD raised its position in Acacia Communications by 22.0% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 555,660 shares of the technology company’s stock valued at $32,572,000 after buying an additional 100,125 shares during the last quarter. Hedge funds and other institutional investors own 66.39% of the company’s stock.
Shares of Acacia Communications, Inc. (NASDAQ:ACIA) traded down 0.989% during mid-day trading on Friday, hitting $44.535. 293,736 shares of the stock were exchanged. The stock’s 50 day moving average price is $51.04 and its 200-day moving average price is $59.68. Acacia Communications, Inc. has a 12-month low of $28.41 and a 12-month high of $128.73. The stock has a market capitalization of $1.72 billion and a P/E ratio of 13.106.
Acacia Communications (NASDAQ:ACIA) last issued its earnings results on Tuesday, May 9th. The technology company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.34. Acacia Communications had a return on equity of 69.87% and a net margin of 22.18%. The company had revenue of $114.67 million for the quarter, compared to analysts’ expectations of $112.46 million. During the same period last year, the business earned $0.44 EPS. Acacia Communications’s quarterly revenue was up 35.7% compared to the same quarter last year. On average, equities research analysts expect that Acacia Communications, Inc. will post $2.19 EPS for the current fiscal year.
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Several research firms recently weighed in on ACIA. B. Riley reissued a “neutral” rating and set a $47.00 price objective on shares of Acacia Communications in a research note on Saturday, May 13th. Deutsche Bank AG set a $60.00 price objective on shares of Acacia Communications and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Morgan Stanley lowered shares of Acacia Communications from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $70.00 to $45.00 in a research note on Thursday, May 11th. Zacks Investment Research lowered shares of Acacia Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. Finally, Cowen and Company cut their price target on shares of Acacia Communications from $75.00 to $66.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $64.25.
In other Acacia Communications news, insider Benny P. Mikkelsen sold 25,842 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $46.54, for a total transaction of $1,202,686.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Murugesan Shanmugaraj sold 14,000 shares of the firm’s stock in a transaction 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. Over the last quarter, insiders sold 159,452 shares of company stock worth $8,230,886.
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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