Acacia Communications, Inc. (NASDAQ:ACIA) VP Christian J. Rasmussen sold 3,372 shares of the company’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $43.93, for a total value of $148,131.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

NASDAQ:ACIA opened at $45.01 on Monday. Acacia Communications, Inc. has a 52-week low of $24.72 and a 52-week high of $47.26. The firm has a market cap of $1.82 billion, a P/E ratio of 37.82, a P/E/G ratio of 45.33 and a beta of 1.68.

Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings data on Thursday, November 1st. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $94.80 million for the quarter, compared to analyst estimates of $89.99 million. During the same period in the previous year, the company posted $0.46 EPS. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. On average, research analysts anticipate that Acacia Communications, Inc. will post 0.08 earnings per share for the current year.

A number of research analysts have recently commented on the company. Deutsche Bank upped their price target on Acacia Communications from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 5th. Citigroup upped their price target on Acacia Communications to $60.00 and gave the company a “buy” rating in a research report on Monday, November 5th. Rosenblatt Securities set a $51.00 price target on Acacia Communications and gave the company a “buy” rating in a research report on Saturday, November 3rd. ValuEngine raised Acacia Communications from a “hold” rating to a “buy” rating in a research report on Friday, November 2nd. Finally, MKM Partners upped their price target on Acacia Communications from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $43.97.

Large investors have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in Acacia Communications by 108.0% in the 2nd quarter. FMR LLC now owns 2,692,239 shares of the technology company’s stock worth $93,718,000 after acquiring an additional 1,398,166 shares during the last quarter. BlackRock Inc. increased its stake in Acacia Communications by 10.1% in the 3rd quarter. BlackRock Inc. now owns 1,953,353 shares of the technology company’s stock worth $80,808,000 after acquiring an additional 178,985 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Acacia Communications by 330.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 808,169 shares of the technology company’s stock worth $33,434,000 after acquiring an additional 620,202 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Acacia Communications by 813.2% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 500,007 shares of the technology company’s stock worth $20,685,000 after acquiring an additional 445,253 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its stake in Acacia Communications by 51.3% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 473,419 shares of the technology company’s stock worth $16,480,000 after acquiring an additional 160,488 shares during the last quarter. Institutional investors own 81.22% of the company’s stock.

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About Acacia Communications

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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