Wells Fargo & Company MN lifted its stake in Acacia Communications, Inc. (NASDAQ:ACIA) by 83.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,609 shares of the technology company’s stock after purchasing an additional 44,754 shares during the period. Wells Fargo & Company MN owned 0.24% of Acacia Communications worth $4,650,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of ACIA. Dimensional Fund Advisors LP increased its position in shares of Acacia Communications by 747.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 333,394 shares of the technology company’s stock valued at $12,669,000 after acquiring an additional 294,068 shares during the last quarter. Comerica Bank lifted its position in Acacia Communications by 8.7% in the 1st quarter. Comerica Bank now owns 19,918 shares of the technology company’s stock valued at $1,186,000 after acquiring an additional 1,595 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in Acacia Communications by 2.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,951 shares of the technology company’s stock valued at $628,000 after acquiring an additional 310 shares in the last quarter. Laurion Capital Management LP bought a new position in Acacia Communications in the 1st quarter valued at about $1,202,000. Finally, Penserra Capital Management LLC bought a new position in Acacia Communications in the 1st quarter valued at about $126,000. Institutional investors and hedge funds own 77.74% of the company’s stock.
Several equities analysts recently weighed in on ACIA shares. Zacks Investment Research cut shares of Acacia Communications from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 9th. Needham & Company LLC lowered shares of Acacia Communications from a “buy” rating to a “hold” rating and set a $64.91 price objective for the company. in a research note on Wednesday, July 10th. Rosenblatt Securities reiterated a “neutral” rating on shares of Acacia Communications in a research note on Tuesday, July 16th. UBS Group lowered shares of Acacia Communications from a “buy” rating to a “neutral” rating and increased their price objective for the company from $64.00 to $70.00 in a research note on Wednesday, July 10th. Finally, Piper Jaffray Companies lowered shares of Acacia Communications from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $68.00 to $70.00 in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $58.07.
Shares of ACIA stock traded down $0.07 during mid-day trading on Thursday, reaching $64.44. The stock had a trading volume of 3,455 shares, compared to its average volume of 344,554. The stock’s 50-day moving average price is $64.24 and its two-hundred day moving average price is $56.93. Acacia Communications, Inc. has a 52-week low of $32.98 and a 52-week high of $67.49. The firm has a market capitalization of $2.66 billion, a PE ratio of 429.13, a price-to-earnings-growth ratio of 3.77 and a beta of 1.77. The company has a current ratio of 4.18, a quick ratio of 3.82 and a debt-to-equity ratio of 0.03.
Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. Acacia Communications had a net margin of 5.30% and a return on equity of 7.30%. The company had revenue of $111.18 million for the quarter, compared to analysts’ expectations of $108.68 million. On average, equities research analysts forecast that Acacia Communications, Inc. will post 0.87 earnings per share for the current year.
About Acacia Communications
Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the United States, China, Germany, Thailand, and internationally. The company offers embedded and pluggable module products consisting of optical interconnect modules with transmission speeds ranging from 100 to 1,200 gigabits per second for use in long-haul, metro, and inter-data center markets.
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