Acacia Communications, Inc. (NASDAQ:ACIA) was down 5.6% during trading on Monday following insider selling activity. The stock traded as low as $42.41 and last traded at $42.51. Approximately 631,538 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 758,243 shares. The stock had previously closed at $45.01.

Specifically, CEO Murugesan Shanmugaraj sold 2,726 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $43.93, for a total value of $119,753.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Christian J. Rasmussen sold 3,372 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $43.93, for a total value of $148,131.96. The disclosure for this sale can be found here. Insiders sold a total of 13,423 shares of company stock valued at $592,481 over the last quarter. 33.20% of the stock is owned by insiders.

Several equities analysts recently issued reports on ACIA shares. Zacks Investment Research lowered Acacia Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. B. Riley boosted their target price on Acacia Communications from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Citigroup boosted their target price on Acacia Communications to $60.00 and gave the company a “buy” rating in a research note on Monday, November 5th. Rosenblatt Securities set a $46.00 target price on Acacia Communications and gave the company a “buy” rating in a research note on Sunday, August 5th. Finally, Deutsche Bank boosted their target price on Acacia Communications from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $43.97.

The company has a market cap of $1.82 billion, a P/E ratio of 35.72, a P/E/G ratio of 45.33 and a beta of 1.68.

Acacia Communications (NASDAQ:ACIA) last released its earnings results on Thursday, November 1st. The technology company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.19. Acacia Communications had a positive return on equity of 2.11% and a negative net margin of 7.68%. The firm had revenue of $94.80 million for the quarter, compared to analysts’ expectations of $89.99 million. During the same quarter in the previous year, the business posted $0.46 EPS. The business’s quarterly revenue was down 9.7% compared to the same quarter last year. As a group, analysts expect that Acacia Communications, Inc. will post 0.08 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in shares of Acacia Communications by 31.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,240 shares of the technology company’s stock worth $258,000 after purchasing an additional 1,500 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Acacia Communications by 3.7% during 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. Legal & General Group Plc raised its stake in shares of Acacia Communications by 32.9% during the 1st quarter. Legal & General Group Plc now owns 8,732 shares of the technology company’s stock worth $336,000 after purchasing an additional 2,164 shares in the last quarter. First Mercantile Trust Co. raised its stake in shares of Acacia Communications by 47.8% during the 2nd quarter. First Mercantile Trust Co. now owns 7,376 shares of the technology company’s stock worth $257,000 after purchasing an additional 2,386 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of Acacia Communications by 42.6% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 9,018 shares of the technology company’s stock worth $314,000 after purchasing an additional 2,694 shares in the last quarter. Institutional investors own 81.22% of the company’s stock.

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About Acacia Communications (NASDAQ:ACIA)

Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific region. Its products include a series of low-power coherent digital signal processor application-specific integrated circuits and silicon photonic integrated circuits that are integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per second for use in long-haul, metro, and inter-data center markets.

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