Benny P. Mikkelsen Sells 5,892 Shares of Acacia Communications, Inc. (ACIA) Stock

Acacia Communications, Inc. (NASDAQ:ACIA) CTO Benny P. Mikkelsen sold 5,892 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $52.38, for a total transaction of $308,622.96. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Benny P. Mikkelsen also recently made the following trade(s):

  • On Tuesday, May 14th, Benny P. Mikkelsen sold 8,617 shares of Acacia Communications stock. The shares were sold at an average price of $52.20, for a total transaction of $449,807.40.
  • On Thursday, February 14th, Benny P. Mikkelsen sold 1,810 shares of Acacia Communications stock. The shares were sold at an average price of $43.38, for a total transaction of $78,517.80.

Shares of ACIA stock traded down $0.04 during mid-day trading on Wednesday, reaching $52.95. The company’s stock had a trading volume of 692,700 shares, compared to its average volume of 769,124. Acacia Communications, Inc. has a 1-year low of $31.42 and a 1-year high of $62.18. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 353.00, a P/E/G ratio of 3.03 and a beta of 1.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.65 and a current ratio of 4.93.

Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.26. The company had revenue of $105.20 million during the quarter, compared to analysts’ expectations of $101.10 million. Acacia Communications had a net margin of 5.63% and a return on equity of 4.96%. The business’s revenue was up 44.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.10 EPS. On average, sell-side analysts predict that Acacia Communications, Inc. will post 0.92 earnings per share for the current year.

ACIA has been the subject of several research analyst reports. Cowen upped their target price on shares of Acacia Communications from $45.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, February 22nd. DA Davidson increased their price objective on shares of Acacia Communications to $46.00 and gave the company a “neutral” rating in a research note on Monday, February 25th. Craig Hallum assumed coverage on shares of Acacia Communications in a research note on Monday, March 4th. They issued a “buy” rating for the company. Bank of America upgraded shares of Acacia Communications from an “underperform” rating to a “neutral” rating and set a $56.60 price objective for the company in a research note on Monday, May 6th. Finally, Morgan Stanley cut shares of Acacia Communications from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $38.00 to $44.00 in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $57.36.

Institutional investors have recently made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Acacia Communications during the 1st quarter worth about $39,000. Acadian Asset Management LLC acquired a new stake in shares of Acacia Communications during the 1st quarter worth about $81,000. State of Tennessee Treasury Department acquired a new stake in shares of Acacia Communications during the 1st quarter worth about $107,000. Penserra Capital Management LLC acquired a new stake in shares of Acacia Communications during the 1st quarter worth about $126,000. Finally, Great West Life Assurance Co. Can increased its position in shares of Acacia Communications by 100.6% during the 4th quarter. Great West Life Assurance Co. Can now owns 3,611 shares of the technology company’s stock worth $132,000 after purchasing an additional 1,811 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

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Acacia Communications Company Profile

Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the United States, China, Germany, Thailand, and internationally. The company offers embedded and pluggable module products consisting of optical interconnect modules with transmission speeds ranging from 100 to 1,200 gigabits per second for use in long-haul, metro, and inter-data center markets.

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