Schwab Charles Investment Management Inc. Has $3.51 Million Holdings in Acacia Communications, Inc. (ACIA)
Schwab Charles Investment Management Inc. boosted its holdings in shares of Acacia Communications, Inc. (NASDAQ:ACIA) by 24.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,945 shares of the technology company’s stock after purchasing an additional 19,175 shares during the period. Schwab Charles Investment Management Inc. owned about 0.25% of Acacia Communications worth $3,513,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in shares of Acacia Communications by 14.5% during the third quarter. Bank of New York Mellon Corp now owns 91,286 shares of the technology company’s stock worth $4,300,000 after buying an additional 11,526 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Acacia Communications during the third quarter worth approximately $3,358,000. Ameriprise Financial Inc. acquired a new stake in shares of Acacia Communications during the third quarter worth approximately $4,386,000. California State Teachers Retirement System increased its holdings in shares of Acacia Communications by 218.9% during the second quarter. California State Teachers Retirement System now owns 32,780 shares of the technology company’s stock worth $1,359,000 after buying an additional 22,500 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Acacia Communications by 483.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 246,811 shares of the technology company’s stock worth $11,625,000 after buying an additional 204,513 shares in the last quarter. Hedge funds and other institutional investors own 62.41% of the company’s stock.
Shares of Acacia Communications stock opened at $43.92 on Monday. The firm has a market cap of $1,750.80, a P/E ratio of 29.88, a P/E/G ratio of 7.65 and a beta of 0.92. Acacia Communications, Inc. has a fifty-two week low of $33.68 and a fifty-two week high of $61.15.
Several analysts have recently weighed in on the stock. Morgan Stanley lowered shares of Acacia Communications from an “equal weight” rating to an “underweight” rating and set a $37.00 price objective for the company. in a report on Friday, March 9th. UBS set a $48.00 price objective on shares of Acacia Communications and gave the stock a “buy” rating in a report on Friday, February 23rd. MKM Partners reaffirmed a “neutral” rating and set a $61.00 price objective (up previously from $53.00) on shares of Acacia Communications in a report on Friday, February 23rd. Needham & Company LLC reaffirmed a “hold” rating and set a $38.00 price objective on shares of Acacia Communications in a report on Friday, February 23rd. Finally, DA Davidson lowered shares of Acacia Communications from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $48.00 to $38.00 in a report on Friday, February 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $46.09.
In related news, VP Mehrdad Givehchi sold 48,722 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $36.80, for a total value of $1,792,969.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Benny P. Mikkelsen sold 1,900 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $38.48, for a total transaction of $73,112.00. The disclosure for this sale can be found here. In the last three months, insiders sold 169,917 shares of company stock valued at $6,530,411. 37.10% of the stock is currently owned by company insiders.
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Acacia Communications 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.
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