Legal & General Group Plc Boosts Position in Acacia Communications, Inc. (ACIA)

Legal & General Group Plc lifted its position in shares of Acacia Communications, Inc. (NASDAQ:ACIA) by 319.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,503 shares of the technology company’s stock after acquiring an additional 4,953 shares during the period. Legal & General Group Plc’s holdings in Acacia Communications were worth $269,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ACIA. Russell Investments Group Ltd. raised its position in shares of Acacia Communications by 640.9% during the 1st quarter. Russell Investments Group Ltd. now owns 31,260 shares of the technology company’s stock valued at $1,832,000 after acquiring an additional 27,041 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Acacia Communications by 109.2% during the 1st quarter. Wells Fargo & Company MN now owns 33,148 shares of the technology company’s stock valued at $1,944,000 after acquiring an additional 17,305 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Acacia Communications by 6.6% during the 1st quarter. Bank of New York Mellon Corp now owns 37,528 shares of the technology company’s stock valued at $2,200,000 after acquiring an additional 2,340 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new stake in shares of Acacia Communications during the 1st quarter valued at approximately $391,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Acacia Communications during the 1st quarter valued at approximately $372,000. 81.84% of the stock is currently owned by institutional investors and hedge funds.

Shares of Acacia Communications, Inc. (NASDAQ:ACIA) opened at 46.90 on Wednesday. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 16.04 and a beta of 3.27. The firm has a 50-day moving average price of $46.53 and a 200 day moving average price of $46.53. Acacia Communications, Inc. has a 12 month low of $44.00 and a 12 month high of $96.21.

Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.08. The business 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 34.46% and a net margin of 29.65%. Acacia Communications’s quarterly revenue was down 32.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 EPS. On average, analysts anticipate that Acacia Communications, Inc. will post $1.86 EPS for the current fiscal year.

In related news, VP Christian J. Rasmussen sold 3,307 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $44.46, for a total value of $147,029.22. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Bhupendra C. Shah sold 8,300 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $47.81, for a total value of $396,823.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,655 shares of company stock worth $1,558,760. 37.10% of the stock is owned by insiders.

COPYRIGHT VIOLATION NOTICE: This story was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright & trademark law. The original version of this story can be viewed at https://ledgergazette.com/2017/10/11/legal-general-group-plc-boosts-position-in-acacia-communications-inc-acia.html.

ACIA has been the topic of several research reports. Zacks Investment Research raised Acacia Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 4th. B. Riley reissued a “neutral” rating and set a $44.00 price target on shares of Acacia Communications in a research report on Wednesday, August 9th. Northland Securities reissued a “buy” rating and set a $50.00 price target on shares of Acacia Communications in a research report on Friday, June 23rd. ValuEngine lowered Acacia Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Cowen and Company reissued an “outperform” rating and set a $57.00 price target on shares of Acacia Communications in a research re

Several other hedge funds have also recently bought and sold shares of ACIA. Russell Investments Group Ltd. raised its position in shares of Acacia Communications by 640.9% during the 1st quarter. Russell Investments Group Ltd. now owns 31,260 shares of the technology company’s stock valued at $1,832,000 after acquiring an additional 27,041 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Acacia Communications by 109.2% during the 1st quarter. Wells Fargo & Company MN now owns 33,148 shares of the technology company’s stock valued at $1,944,000 after acquiring an additional 17,305 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Acacia Communications by 6.6% during the 1st quarter. Bank of New York Mellon Corp now owns 37,528 shares of the technology company’s stock valued at $2,200,000 after acquiring an additional 2,340 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new stake in shares of Acacia Communications during the 1st quarter valued at approximately $391,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Acacia Communications during the 1st quarter valued at approximately $372,000. 81.84% of the stock is currently owned by institutional investors and hedge funds.

Shares of Acacia Communications, Inc. (NASDAQ:ACIA) opened at 46.90 on Wednesday. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 16.04 and a beta of 3.27. The firm has a 50-day moving average price of $46.53 and a 200 day moving average price of $46.53. Acacia Communications, Inc. has a 12 month low of $44.00 and a 12 month high of $96.21.

Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.08. The business 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 34.46% and a net margin of 29.65%. Acacia Communications’s quarterly revenue was down 32.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 EPS. On average, analysts anticipate that Acacia Communications, Inc. will post $1.86 EPS for the current fiscal year.

In related news, VP Christian J. Rasmussen sold 3,307 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $44.46, for a total value of $147,029.22. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Bhupendra C. Shah sold 8,300 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $47.81, for a total value of $396,823.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,655 shares of company stock worth $1,558,760. 37.10% of the stock is owned by insiders.

COPYRIGHT VIOLATION NOTICE: This story was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright & trademark law. The original version of this story can be viewed at https://ledgergazette.com/2017/10/11/legal-general-group-plc-boosts-position-in-acacia-communications-inc-acia.html.

ACIA has been the topic of several research reports. Zacks Investment Research raised Acacia Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 4th. B. Riley reissued a “neutral” rating and set a $44.00 price target on shares of Acacia Communications in a research report on Wednesday, August 9th. Northland Securities reissued a “buy” rating and set a $50.00 price target on shares of Acacia Communications in a research report on Friday, June 23rd. ValuEngine lowered Acacia Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Cowen and Company reissued an “outperform” rating and set a $57.00 price target on shares of Acacia Communications in a research report on Monday, July 24th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $53.25.

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.

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

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