Tealwood Asset Management Inc. raised its holdings in shares of Acacia Communications, Inc. (NASDAQ:ACIA) by 29.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,485 shares of the technology company’s stock after acquiring an additional 9,675 shares during the quarter. Tealwood Asset Management Inc. owned approximately 0.11% of Acacia Communications worth $1,539,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its stake in Acacia Communications by 24.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 96,945 shares of the technology company’s stock valued at $3,513,000 after acquiring an additional 19,175 shares in the last quarter. CWM LLC purchased a new position in Acacia Communications during the 4th quarter valued at about $3,599,000. Point72 Asset Management L.P. purchased a new position in Acacia Communications during the 3rd quarter valued at about $3,358,000. Magnetar Financial LLC purchased a new position in Acacia Communications during the 3rd quarter valued at about $238,000. Finally, Stifel Financial Corp purchased a new position in Acacia Communications during the 3rd quarter valued at about $218,000. 91.49% of the stock is currently owned by institutional investors.
Several research firms have weighed in on ACIA. Cowen raised Acacia Communications to an “outperform” rating and lowered their target price for the company from $55.00 to $41.00 in a research note on Friday, November 3rd. Zacks Investment Research raised Acacia Communications from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 4th. AltaCorp Capital raised Acacia Communications from a “neutral” rating to a “buy” rating in a research note on Friday, November 3rd. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Acacia Communications in a research note on Friday, November 3rd. Finally, DA Davidson lowered their price target on Acacia Communications to $48.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $50.50.
Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.11. The business had revenue of $105.00 million during the quarter, compared to analysts’ expectations of $104.35 million. Acacia Communications had a return on equity of 25.29% and a net margin of 27.98%. The firm’s quarterly revenue was down 22.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 EPS. analysts expect that Acacia Communications, Inc. will post 1.15 EPS for the current fiscal year.
In other Acacia Communications news, insider Francis J. Murphy sold 598 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $44.32, for a total transaction of $26,503.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benny P. Mikkelsen sold 2,901 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $36.40, for a total value of $105,596.40. The disclosure for this sale can be found here. In the last three months, insiders sold 69,932 shares of company stock valued at $2,598,576. 37.10% of the stock is currently owned by company insiders.
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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