Acacia Communications, Inc. (NASDAQ:ACIA) insider Benny P. Mikkelsen sold 8,617 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $52.20, for a total transaction of $449,807.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

  • On Monday, May 13th, Benny P. Mikkelsen sold 5,892 shares of Acacia Communications stock. The stock was sold at an average price of $52.38, for a total transaction of $308,622.96.
  • On Thursday, February 14th, Benny P. Mikkelsen sold 1,810 shares of Acacia Communications stock. The stock was sold at an average price of $43.38, for a total transaction of $78,517.80.

NASDAQ:ACIA traded down $3.18 during midday trading on Thursday, reaching $49.77. 72,992 shares of the stock traded hands, compared to its average volume of 769,124. Acacia Communications, Inc. has a 12 month low of $31.42 and a 12 month high of $62.18. The company has a quick ratio of 4.65, a current ratio of 4.93 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.10 billion, a P/E ratio of 334.27, a P/E/G ratio of 3.03 and a beta of 1.71.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.26. Acacia Communications had a net margin of 5.63% and a return on equity of 4.96%. The company had revenue of $105.20 million during the quarter, compared to analyst estimates of $101.10 million. During the same period in the prior year, the business posted $0.10 EPS. The firm’s revenue was up 44.3% compared to the same quarter last year. As a group, analysts anticipate that Acacia Communications, Inc. will post 0.92 EPS for the current year.

A number of large investors have recently bought and sold shares of ACIA. Bank of New York Mellon Corp raised its holdings in Acacia Communications by 330.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 808,169 shares of the technology company’s stock valued at $33,434,000 after buying an additional 620,202 shares during the last quarter. Teachers Advisors LLC raised its holdings in Acacia Communications by 3.7% in the 3rd quarter. Teachers Advisors LLC now owns 54,238 shares of the technology company’s stock worth $2,244,000 after purchasing an additional 1,919 shares in the last quarter. Nordea Investment Management AB raised its holdings in Acacia Communications by 19.9% in the 3rd quarter. Nordea Investment Management AB now owns 463,921 shares of the technology company’s stock worth $19,192,000 after purchasing an additional 77,109 shares in the last quarter. Morgan Stanley raised its holdings in Acacia Communications by 128.5% in the 3rd quarter. Morgan Stanley now owns 204,824 shares of the technology company’s stock worth $8,474,000 after purchasing an additional 115,190 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Acacia Communications by 19.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,410,234 shares of the technology company’s stock worth $99,711,000 after purchasing an additional 391,574 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

A number of equities research analysts have recently weighed in on ACIA shares. Cowen boosted their price objective on shares of Acacia Communications from $45.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, February 22nd. DA Davidson boosted their price objective on shares of Acacia Communications to $46.00 and gave the stock a “neutral” rating in a report on Monday, February 25th. Craig Hallum started coverage on shares of Acacia Communications in a report 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 report on Monday, May 6th. Finally, Morgan Stanley lowered shares of Acacia Communications from an “equal weight” rating to an “underweight” rating and boosted their price objective for the stock from $38.00 to $44.00 in a report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Acacia Communications currently has a consensus rating of “Hold” and a consensus price target of $57.36.

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About Acacia Communications

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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Insider Buying and Selling by Quarter for Acacia Communications (NASDAQ:ACIA)

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