Wells Fargo & Company MN increased its stake in Acacia Communications, Inc. (NASDAQ:ACIA) by 4.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 34,629 shares of the technology company’s stock after buying an additional 1,481 shares during the quarter. Wells Fargo & Company MN owned 0.09% of Acacia Communications worth $1,436,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. American International Group Inc. boosted its holdings in shares of Acacia Communications by 7.1% in the 1st quarter. American International Group Inc. now owns 3,225 shares of the technology company’s stock worth $189,000 after buying an additional 215 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Acacia Communications in the 1st quarter worth about $234,000. Carl Domino Inc boosted its holdings in shares of Acacia Communications by 22.2% in the 2nd quarter. Carl Domino Inc now owns 5,500 shares of the technology company’s stock worth $228,000 after buying an additional 1,000 shares during the last quarter. Koshinski Asset Management Inc. boosted its holdings in shares of Acacia Communications by 75.2% in the 2nd quarter. Koshinski Asset Management Inc. now owns 6,150 shares of the technology company’s stock worth $255,000 after buying an additional 2,640 shares during the last quarter. Finally, Brighton Jones LLC purchased a new position in shares of Acacia Communications in the 2nd quarter worth about $257,000. 82.12% of the stock is currently owned by institutional investors.

Several research firms have commented on ACIA. B. Riley reaffirmed a “neutral” rating and set a $44.00 price objective on shares of Acacia Communications in a report on Wednesday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Acacia Communications in a report on Friday, August 4th. MKM Partners dropped their price objective on shares of Acacia Communications from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. Zacks Investment Research downgraded shares of Acacia Communications from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Acacia Communications in a report on Monday, July 24th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $53.25.

In other news, CEO Murugesan Shanmugaraj sold 2,829 shares of Acacia Communications stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $44.46, for a total transaction of $125,777.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Francis J. Murphy sold 598 shares of Acacia Communications stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $44.32, for a total value of $26,503.36. The disclosure for this sale can be found here. Insiders sold 33,843 shares of company stock worth $1,567,441 over the last three months. Insiders own 37.10% of the company’s stock.

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Shares of Acacia Communications, Inc. (NASDAQ:ACIA) opened at 42.06 on Tuesday. The stock has a market capitalization of $1.65 billion, a P/E ratio of 14.38 and a beta of 3.31. The firm’s 50-day moving average is $45.69 and its 200 day moving average is $45.69. Acacia Communications, Inc. has a 12-month low of $38.50 and a 12-month high of $79.38.

Acacia Communications (NASDAQ:ACIA) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.08. The business had revenue of $78.90 million for the quarter, compared to analysts’ expectations of $78.17 million. Acacia Communications had a return on equity of 34.46% and a net margin of 29.65%. The business’s revenue for the quarter was down 32.0% on a year-over-year basis. During the same period last year, the firm posted $0.77 earnings per share. On average, equities research analysts forecast that Acacia Communications, Inc. will post $1.85 EPS for the current fiscal year.

Acacia Communications Company 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.

Institutional Ownership by Quarter for Acacia Communications (NASDAQ:ACIA)

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