Acacia Communications, Inc. (NASDAQ:ACIA) insider Benny P. Mikkelsen sold 2,901 shares of Acacia Communications stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $36.40, for a total transaction of $105,596.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Acacia Communications, Inc. (NASDAQ:ACIA) opened at $38.35 on Monday. Acacia Communications, Inc. has a one year low of $35.36 and a one year high of $74.75. The company has a market cap of $1,510.12, a PE ratio of 13.22, a PEG ratio of 2.22 and a beta of 2.21.
Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.11. Acacia Communications had a net margin of 27.98% and a return on equity of 25.29%. The company had revenue of $105.00 million during the quarter, compared to the consensus estimate of $104.35 million. During the same period in the prior year, the firm earned $1.01 earnings per share. Acacia Communications’s revenue was down 22.4% on a year-over-year basis. equities analysts predict that Acacia Communications, Inc. will post 1.15 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in ACIA. American International Group Inc. grew its holdings in Acacia Communications by 7.1% in the first quarter. American International Group Inc. now owns 3,225 shares of the technology company’s stock worth $189,000 after purchasing an additional 215 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new stake in Acacia Communications in the first quarter worth about $234,000. First Trust Advisors LP purchased a new stake in Acacia Communications in the third quarter worth about $201,000. Stifel Financial Corp purchased a new stake in Acacia Communications in the third quarter worth about $218,000. Finally, Pitcairn Co. purchased a new stake in Acacia Communications in the third quarter worth about $216,000. 91.48% of the stock is owned by institutional investors.
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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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