Wells Fargo & Company MN grew its stake in Acacia Communications, Inc. (NASDAQ:ACIA) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,468 shares of the technology company’s stock after acquiring an additional 1,839 shares during the period. Wells Fargo & Company MN owned 0.09% of Acacia Communications worth $1,717,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP bought a new position in shares of Acacia Communications in the 3rd quarter valued at about $201,000. Pitcairn Co. bought a new position in shares of Acacia Communications in the 3rd quarter valued at about $216,000. Commonwealth Equity Services Inc bought a new position in shares of Acacia Communications in the 3rd quarter valued at about $232,000. Thompson Davis & CO. Inc. grew its holdings in shares of Acacia Communications by 4,100.0% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 5,250 shares of the technology company’s stock valued at $247,000 after acquiring an additional 5,125 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Acacia Communications by 319.5% in the 2nd quarter. Legal & General Group Plc now owns 6,503 shares of the technology company’s stock valued at $269,000 after acquiring an additional 4,953 shares in the last quarter. Institutional investors own 91.49% of the company’s stock.

Acacia Communications, Inc. (NASDAQ ACIA) opened at $37.01 on Friday. Acacia Communications, Inc. has a 1-year low of $35.36 and a 1-year high of $69.57. The company has a market capitalization of $1,512.09, a PE ratio of 12.50, a P/E/G ratio of 2.88 and a beta of 2.28.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. Acacia Communications had a return on equity of 25.29% and a net margin of 27.98%. The business had revenue of $105.00 million during the quarter, compared to analysts’ expectations of $104.35 million. During the same quarter last year, the company posted $1.01 earnings per share. Acacia Communications’s quarterly revenue was down 22.4% on a year-over-year basis. equities analysts expect that Acacia Communications, Inc. will post 1.15 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on the company. Cowen upgraded Acacia Communications to an “outperform” rating and decreased their price objective for the company from $55.00 to $41.00 in a report on Friday, November 3rd. Zacks Investment Research upgraded Acacia Communications from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th. AltaCorp Capital upgraded Acacia Communications from a “neutral” rating to a “buy” rating in a report on Friday, November 3rd. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Acacia Communications in a report on Friday, November 3rd. Finally, DA Davidson decreased their price objective on Acacia Communications to $48.00 and set a “buy” rating for the company in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $50.50.

In related news, CEO Murugesan Shanmugaraj sold 6,975 shares of Acacia Communications stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $38.23, for a total transaction of $266,654.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Francis J. Murphy sold 598 shares of Acacia Communications stock in a transaction dated Monday, October 23rd. The stock was 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 have sold 69,932 shares of company stock valued at $2,598,576 in the last quarter. 37.10% of the stock is currently owned by corporate insiders.

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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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