Acacia Communications, Inc. (ACIA) VP Bhupendra C. Shah Sells 44,626 Shares

Acacia Communications, Inc. (NASDAQ:ACIA) VP Bhupendra C. Shah sold 44,626 shares of the company’s stock in a transaction that occurred on Wednesday, January 9th. The shares were sold at an average price of $41.35, for a total value of $1,845,285.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of NASDAQ:ACIA opened at $42.47 on Friday. Acacia Communications, Inc. has a one year low of $24.72 and a one year high of $47.26. The company has a market cap of $1.70 billion, a PE ratio of 35.69, a price-to-earnings-growth ratio of 6.20 and a beta of 1.63.

Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings data on Thursday, November 1st. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.19. The firm had revenue of $94.80 million during the quarter, compared to analysts’ expectations of $89.99 million. Acacia Communications had a negative net margin of 7.68% and a positive return on equity of 2.11%. The business’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.46 earnings per share. Research analysts expect that Acacia Communications, Inc. will post 0.09 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of ACIA. PNC Financial Services Group Inc. acquired a new position in Acacia Communications during the second quarter valued at approximately $164,000. BlueMountain Capital Management LLC bought a new position in Acacia Communications during the 3rd quarter valued at $198,000. GAM Holding AG bought a new position in Acacia Communications during the 3rd quarter valued at $211,000. Janus Henderson Group PLC bought a new position in Acacia Communications during the 2nd quarter valued at $214,000. Finally, Colrain Capital LLC bought a new position in Acacia Communications during the 3rd quarter valued at $231,000. Hedge funds and other institutional investors own 82.31% of the company’s stock.

A number of research firms have recently issued reports on ACIA. Zacks Investment Research upgraded Acacia Communications from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Thursday, January 3rd. TheStreet raised shares of Acacia Communications from a “d+” rating to a “c-” rating in a research note on Monday, December 10th. Loop Capital boosted their target price on shares of Acacia Communications to $60.00 and gave the stock a “reduce” rating in a research note on Thursday, December 6th. Deutsche Bank lifted their price target on shares of Acacia Communications from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 5th. Finally, Citigroup lifted their price target on shares of Acacia Communications to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 5th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. Acacia Communications has an average rating of “Buy” and a consensus target price of $45.07.

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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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