Zweig DiMenna Associates LLC acquired a new stake in shares of Acacia Communications, Inc. (NASDAQ:ACIA) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 92,500 shares of the technology company’s stock, valued at approximately $4,357,000. Zweig DiMenna Associates LLC owned approximately 0.23% of Acacia Communications at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in ACIA. American International Group Inc. grew its stake in 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 acquiring an additional 215 shares in the last quarter. First Trust Advisors LP purchased a new stake in Acacia Communications during the 3rd quarter valued at about $201,000. Pitcairn Co. purchased a new stake in Acacia Communications during the 3rd quarter valued at about $216,000. Carl Domino Inc grew its stake in 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 acquiring an additional 1,000 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in Acacia Communications during the 1st quarter valued at about $234,000. 84.32% of the stock is owned by institutional investors.
Acacia Communications, Inc. (NASDAQ ACIA) traded up $0.16 during trading on Monday, hitting $36.11. 430,400 shares of the stock traded hands, compared to its average volume of 1,094,708. Acacia Communications, Inc. has a twelve month low of $35.55 and a twelve month high of $79.38. The stock has a market cap of $1,420.00 and a PE ratio of 12.45.
Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.11. Acacia Communications had a net margin of 27.98% and a return on equity of 25.29%. The business had revenue of $105.00 million during the quarter, compared to analysts’ expectations of $104.35 million. During the same quarter in the prior year, the company posted $1.01 EPS. The business’s revenue for the quarter was down 22.4% on a year-over-year basis. analysts forecast that Acacia Communications, Inc. will post 1.15 earnings per share for the current year.
In other news, insider Francis J. Murphy sold 833 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $48.00, for a total value of $39,984.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Bhupendra C. Shah sold 8,300 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $44.59, for a total transaction of $370,097.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,469 shares of company stock worth $854,247. Company insiders own 37.10% of the company’s stock.
Several analysts recently issued reports on ACIA shares. Northland Securities set a $50.00 price objective on shares of Acacia Communications and gave the company a “buy” rating in a research note on Saturday, July 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Acacia Communications in a research note on Monday, October 23rd. Cowen and Company reissued an “outperform” rating and issued a $57.00 price target on shares of Acacia Communications in a research note on Monday, July 24th. Zacks Investment Research cut shares of Acacia Communications from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 8th. Finally, MKM Partners dropped their price target on shares of Acacia Communications from $64.00 to $61.00 and set a “buy” rating for the company in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $50.50.
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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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