Acacia Communications, Inc. (ACIA) Position Increased by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. raised its position in shares of Acacia Communications, Inc. (NASDAQ:ACIA) by 253.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,124 shares of the technology company’s stock after buying an additional 18,021 shares during the period. Goldman Sachs Group Inc. owned approximately 0.07% of Acacia Communications worth $1,473,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. FIL Ltd acquired a new position in shares of Acacia Communications during the first quarter worth about $13,205,000. Lazard Asset Management LLC acquired a new position in shares of Acacia Communications during the first quarter worth about $2,196,000. Grandeur Peak Global Advisors LLC acquired a new position in shares of Acacia Communications during the first quarter worth about $497,000. Russell Investments Group Ltd. acquired a new position in shares of Acacia Communications during the fourth quarter worth about $266,000. Finally, Credit Agricole S A raised its position in shares of Acacia Communications by 102.2% in the first quarter. Credit Agricole S A now owns 31,850 shares of the technology company’s stock worth $1,866,000 after buying an additional 16,100 shares during the last quarter. 87.70% of the stock is currently owned by institutional investors.
Acacia Communications, Inc. (ACIA) traded up 2.45% during midday trading on Tuesday, hitting $48.01. The company had a trading volume of 367,652 shares. The company has a market cap of $1.86 billion, a P/E ratio of 14.13 and a beta of 3.79. Acacia Communications, Inc. has a one year low of $38.50 and a one year high of $128.73. The company’s 50 day moving average is $42.74 and its 200-day moving average is $50.84.
Acacia Communications (NASDAQ:ACIA) last released its earnings results on Thursday, August 3rd. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.08. The firm had revenue of $78.90 million for the quarter, compared to analyst estimates of $78.17 million. Acacia Communications had a return on equity of 34.46% and a net margin of 29.65%. The company’s revenue was down 32.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. On average, equities analysts predict that Acacia Communications, Inc. will post $1.88 EPS for the current year.
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A number of equities analysts have issued reports on ACIA shares. Zacks Investment Research raised Acacia Communications from a “hold” rating to a “strong-buy” rating and set a $62.00 target price on the stock in a research report on Wednesday, April 26th. William Blair reaffirmed an “outperform” rating on shares of Acacia Communications in a research report on Monday, May 8th. Northland Securities set a $50.00 target price on Acacia Communications and gave the company a “buy” rating in a research report on Saturday, July 22nd. Cowen and Company reissued an “outperform” rating and set a $57.00 price target on shares of Acacia Communications in a research report on Monday, July 24th. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 price target (down from $65.00) on shares of Acacia Communications in a research report on Monday, July 17th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $61.89.
In other news, CFO John F. Gavin sold 4,634 shares of Acacia Communications stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $48.54, for a total transaction of $224,934.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Benny P. Mikkelsen sold 7,475 shares of Acacia Communications stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $48.52, for a total value of $362,687.00. The disclosure for this sale can be found here. Insiders have sold a total of 31,867 shares of company stock worth $1,542,077 in the last three months.
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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