Acacia Communications, Inc. (NASDAQ:ACIA) CFO John F. Gavin Sells 23,206 Shares

Acacia Communications, Inc. (NASDAQ:ACIA) CFO John F. Gavin sold 23,206 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $53.16, for a total transaction of $1,233,630.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

John F. Gavin also recently made the following trade(s):

  • On Thursday, February 14th, John F. Gavin sold 770 shares of Acacia Communications stock. The shares were sold at an average price of $43.38, for a total transaction of $33,402.60.
  • On Monday, February 4th, John F. Gavin sold 2,752 shares of Acacia Communications stock. The shares were sold at an average price of $42.34, for a total transaction of $116,519.68.

Shares of ACIA traded up $0.72 during midday trading on Friday, hitting $54.17. The stock had a trading volume of 1,189,791 shares, compared to its average volume of 728,380. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 361.13, a PEG ratio of 3.47 and a beta of 1.76. Acacia Communications, Inc. has a fifty-two week low of $24.72 and a fifty-two week high of $57.53.

Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings results on Thursday, February 21st. The technology company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.06. Acacia Communications had a net margin of 1.45% and a return on equity of 3.02%. The company had revenue of $107.10 million for the quarter, compared to analyst estimates of $102.84 million. During the same quarter last year, the firm posted $0.27 earnings per share. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. On average, sell-side analysts forecast that Acacia Communications, Inc. will post 0.85 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in ACIA. FMR LLC raised its holdings in Acacia Communications by 108.0% during the 2nd quarter. FMR LLC now owns 2,692,239 shares of the technology company’s stock worth $93,718,000 after purchasing an additional 1,398,166 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Acacia Communications by 330.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 808,169 shares of the technology company’s stock worth $33,434,000 after purchasing an additional 620,202 shares during the last quarter. Millennium Management LLC raised its holdings in Acacia Communications by 354.2% during the 4th quarter. Millennium Management LLC now owns 639,280 shares of the technology company’s stock worth $24,293,000 after purchasing an additional 498,540 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in Acacia Communications by 813.2% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 500,007 shares of the technology company’s stock worth $20,685,000 after purchasing an additional 445,253 shares during the last quarter. Finally, Vanguard Group Inc increased its stake in shares of Acacia Communications by 19.4% in the 3rd quarter. Vanguard Group Inc now owns 2,410,234 shares of the technology company’s stock valued at $99,711,000 after acquiring an additional 391,574 shares during the last quarter. 79.56% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have commented on the stock. Craig Hallum started coverage on shares of Acacia Communications in a research note on Monday, March 4th. They set a “buy” rating on the stock. Zacks Investment Research raised shares of Acacia Communications from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Thursday, February 28th. DA Davidson increased their target price on shares of Acacia Communications to $46.00 and gave the stock a “neutral” rating in a report on Monday, February 25th. MKM Partners increased their target price on shares of Acacia Communications to $60.00 and gave the stock a “neutral” rating in a report on Monday, February 25th. Finally, Cowen increased their target price on shares of Acacia Communications from $45.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, February 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. Acacia Communications currently has a consensus rating of “Hold” and an average target price of $51.25.

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About Acacia Communications

Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific region. Its products include a series of low-power coherent digital signal processor application-specific integrated circuits and silicon photonic integrated circuits that are integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per second for use in long-haul, metro, and inter-data center markets.

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