Investors Purchase High Volume of Put Options on Acacia Communications (ACIA)

Acacia Communications, Inc. (NASDAQ:ACIA) saw unusually large options trading activity on Monday. Traders bought 2,684 put options on the stock. This is an increase of approximately 435% compared to the average volume of 502 put options.

Acacia Communications (NASDAQ:ACIA) traded up 0.31% during mid-day trading on Monday, hitting $42.40. 835,335 shares of the stock were exchanged. The company has a 50 day moving average of $45.72 and a 200 day moving average of $54.39. Acacia Communications has a 12-month low of $39.51 and a 12-month high of $128.73. The firm has a market cap of $1.64 billion, a P/E ratio of 12.48 and a beta of 3.81.

Acacia Communications (NASDAQ:ACIA) last released its earnings results on Tuesday, May 9th. The technology company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.34. Acacia Communications had a net margin of 30.02% and a return on equity of 43.80%. The firm had revenue of $114.67 million for the quarter, compared to analyst estimates of $112.46 million. During the same period in the prior year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was up 35.7% compared to the same quarter last year. On average, equities analysts anticipate that Acacia Communications will post $2.19 earnings per share for the current fiscal year.

In related news, VP Mehrdad Givehchi sold 25,830 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $46.54, for a total value of $1,202,128.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO John F. Gavin sold 4,634 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $48.54, for a total transaction of $224,934.36. The disclosure for this sale can be found here. Insiders sold a total of 103,986 shares of company stock worth $5,046,224 in the last ninety days.

Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its stake in Acacia Communications by 61.2% in the first quarter. FMR LLC now owns 1,332,907 shares of the technology company’s stock worth $78,135,000 after buying an additional 506,153 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Acacia Communications during the first quarter worth about $72,279,000. Vanguard Group Inc. increased its position in shares of Acacia Communications by 26.5% in the first quarter. Vanguard Group Inc. now owns 1,187,839 shares of the technology company’s stock worth $69,632,000 after buying an additional 248,963 shares during the period. Gilder Gagnon Howe & Co. LLC increased its position in shares of Acacia Communications by 24.6% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 1,181,565 shares of the technology company’s stock worth $69,263,000 after buying an additional 233,434 shares during the period. Finally, Morgan Stanley increased its position in shares of Acacia Communications by 303.5% in the first quarter. Morgan Stanley now owns 765,219 shares of the technology company’s stock worth $44,857,000 after buying an additional 575,574 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Several research analysts have issued reports on ACIA shares. Needham & Company LLC reiterated a “buy” rating and set a $65.00 target price (down from $100.00) on shares of Acacia Communications in a report on Wednesday, May 10th. Deutsche Bank AG set a $60.00 target price on shares of Acacia Communications and gave the stock a “buy” rating in a report on Wednesday, May 10th. William Blair reiterated a “buy” rating on shares of Acacia Communications in a report on Thursday, June 15th. DA Davidson started coverage on shares of Acacia Communications in a report on Thursday, June 22nd. They set a “buy” rating and a $61.00 target price on the stock. Finally, Northland Securities reiterated a “buy” rating and set a $50.00 target price on shares of Acacia Communications in a report on Friday, June 23rd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $65.11.

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About Acacia Communications

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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