Pitcairn Co. lifted its holdings in Acacia Communications, Inc. (NASDAQ:ACIA) by 61.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,430 shares of the technology company’s stock after acquiring an additional 2,839 shares during the period. Pitcairn Co.’s holdings in Acacia Communications were worth $269,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its stake in shares of Acacia Communications by 235.5% in the second quarter. New York State Common Retirement Fund now owns 19,800 shares of the technology company’s stock valued at $821,000 after purchasing an additional 13,899 shares during the period. Northern Trust Corp boosted its stake in shares of Acacia Communications by 174.3% in the second quarter. Northern Trust Corp now owns 203,061 shares of the technology company’s stock valued at $8,422,000 after purchasing an additional 129,031 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Acacia Communications by 175.4% in the second quarter. Parametric Portfolio Associates LLC now owns 18,350 shares of the technology company’s stock valued at $761,000 after purchasing an additional 11,687 shares during the period. Voya Investment Management LLC purchased a new position in shares of Acacia Communications in the second quarter valued at $347,000. Finally, Royal Bank of Canada boosted its stake in shares of Acacia Communications by 12.1% in the second quarter. Royal Bank of Canada now owns 13,966 shares of the technology company’s stock valued at $579,000 after purchasing an additional 1,511 shares during the period. 89.22% of the stock is owned by institutional investors.
Acacia Communications, Inc. (ACIA) traded down $2.05 during trading on Wednesday, hitting $42.39. 444,725 shares of the stock were exchanged, compared to its average volume of 682,197. Acacia Communications, Inc. has a one year low of $33.68 and a one year high of $61.15. The company has a market cap of $1,690.00 and a P/E ratio of 25.38.
Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.02. Acacia Communications had a net margin of 10.00% and a return on equity of 12.40%. The company had revenue of $86.60 million for the quarter, compared to the consensus estimate of $88.41 million. During the same period last year, the firm posted $0.94 EPS. The company’s revenue for the quarter was down 39.2% on a year-over-year basis. sell-side analysts expect that Acacia Communications, Inc. will post 0.28 earnings per share for the current fiscal year.
In related news, VP Christian J. Rasmussen sold 8,000 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $43.84, for a total value of $350,720.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Murugesan Shanmugaraj sold 6,975 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $38.23, for a total transaction of $266,654.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,692 shares of company stock worth $5,517,801. Insiders own 37.10% of the company’s stock.
Several research analysts have recently weighed in on ACIA shares. William Blair restated an “outperform” rating on shares of Acacia Communications in a research note on Wednesday, February 21st. MKM Partners reiterated a “neutral” rating and set a $61.00 price objective (up from $53.00) on shares of Acacia Communications in a research note on Friday, February 23rd. Needham & Company LLC reiterated a “hold” rating and set a $38.00 price objective on shares of Acacia Communications in a research note on Friday, February 23rd. Morgan Stanley downgraded shares of Acacia Communications from an “equal weight” rating to an “underweight” rating and set a $37.00 price objective on the stock. in a research note on Friday, March 9th. Finally, UBS Group initiated coverage on shares of Acacia Communications in a research note on Wednesday, January 31st. They set a “buy” rating and a $50.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Acacia Communications presently has an average rating of “Hold” and a consensus price target of $46.09.
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Acacia Communications 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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