Acacia Communications, Inc. (ACIA) CFO Sells $351,403.70 in Stock

Acacia Communications, Inc. (NASDAQ:ACIA) CFO John F. Gavin sold 6,719 shares of Acacia Communications stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $52.30, for a total transaction of $351,403.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

John F. Gavin also recently made the following trade(s):

  • On Tuesday, March 19th, John F. Gavin sold 2,413 shares of Acacia Communications stock. The shares were sold at an average price of $56.05, for a total transaction of $135,248.65.
  • On Wednesday, March 6th, John F. Gavin sold 23,206 shares of Acacia Communications stock. The shares were sold at an average price of $53.16, for a total transaction of $1,233,630.96.
  • On Thursday, February 14th, John F. Gavin sold 770 shares of Acacia Communications stock. The shares were sold at an average price of $43.38, for a total transaction of $33,402.60.

Shares of ACIA traded down $3.30 during midday trading on Thursday, reaching $49.65. 76,804 shares of the stock were exchanged, compared to its average volume of 769,124. Acacia Communications, Inc. has a twelve month low of $31.42 and a twelve month high of $62.18. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.65 and a current ratio of 4.93. The company has a market capitalization of $2.10 billion, a P/E ratio of 334.27, a P/E/G ratio of 3.03 and a beta of 1.71.

Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.26. Acacia Communications had a return on equity of 4.96% and a net margin of 5.63%. The company had revenue of $105.20 million for the quarter, compared to analysts’ expectations of $101.10 million. During the same quarter last year, the business earned $0.10 earnings per share. Acacia Communications’s revenue was up 44.3% on a year-over-year basis. On average, equities research analysts predict that Acacia Communications, Inc. will post 0.92 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Acacia Communications in the first quarter worth $39,000. Acadian Asset Management LLC bought a new position in shares of Acacia Communications in the first quarter worth $81,000. State of Tennessee Treasury Department bought a new position in shares of Acacia Communications in the first quarter worth $107,000. Penserra Capital Management LLC bought a new position in shares of Acacia Communications in the first quarter worth $126,000. Finally, Great West Life Assurance Co. Can increased its position in shares of Acacia Communications by 100.6% in the fourth quarter. Great West Life Assurance Co. Can now owns 3,611 shares of the technology company’s stock worth $132,000 after purchasing an additional 1,811 shares during the period. Institutional investors own 70.81% of the company’s stock.

A number of research firms have issued reports on ACIA. Zacks Investment Research cut shares of Acacia Communications from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Acacia Communications in a report on Tuesday, April 30th. Piper Jaffray Companies lifted their target price on Acacia Communications from $59.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. UBS Group lifted their target price on Acacia Communications to $64.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, B. Riley downgraded Acacia Communications from a “buy” rating to a “neutral” rating in a report on Friday, April 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Acacia Communications presently has an average rating of “Hold” and a consensus target price of $57.36.

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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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