The Murugesan Shanmugaraj Sells 26,000 Shares of Acacia Communications, Inc. (ACIA) Stock, Report finds

The Murugesan Shanmugaraj Sells 26,000 Shares of Acacia Communications, Inc. (ACIA) Stock, Report finds

Murugesan Shanmugaraj also recently made the following trade(s):

Acacia Communications, Inc. (NASDAQ:ACIA) CEO Murugesan Shanmugaraj sold 26,000 shares of the company’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $57.12, for a total value of $1,485,120.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Acacia Communications, Inc. (NASDAQ:ACIA) opened at 56.25 on Thursday. The firm has a market capitalization of $2.10 billion and a P/E ratio of 25.87. The company has a 50-day moving average price of $61.22 and a 200 day moving average price of $80.66. Acacia Communications, Inc. has a 1-year low of $27.05 and a 1-year high of $128.73.

Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings results on Thursday, November 10th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.86 by $0.15. The company had revenue of $135.30 million for the quarter, compared to analyst estimates of $130.85 million. Acacia Communications had a return on equity of 69.87% and a net margin of 22.18%. The firm’s revenue was up 106.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 earnings per share. Analysts expect that Acacia Communications, Inc. will post $3.17 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Macguire Cheswick & Tuttle Investment Counsel LLC bought a new position in shares of Acacia Communications during the third quarter valued at $207,000. Winfield Associates Inc. increased its position in shares of Acacia Communications by 115.0% in the third quarter. Winfield Associates Inc. now owns 2,150 shares of the company’s stock valued at $222,000 after buying an additional 1,150 shares during the period. Brighton Jones LLC bought a new position in shares of Acacia Communications during the third quarter valued at $233,000. Webster Bank N. A. bought a new position in shares of Acacia Communications during the third quarter valued at $239,000. Finally, Jaffetilchin Investment Partners LLC bought a new position in shares of Acacia Communications during the third quarter valued at $300,000. 62.56% of the stock is currently owned by institutional investors.

Several brokerages have recently weighed in on ACIA. Cowen and Company reaffirmed an “outperform” rating and set a $99.00 target price (up from $90.00) on shares of Acacia Communications in a research note on Thursday, November 10th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Acacia Communications in a research note on Wednesday, November 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 target price on shares of Acacia Communications in a research note on Wednesday, January 11th. Zacks Investment Research raised Acacia Communications from a “hold” rating to a “strong-buy” rating and set a $86.00 target price for the company in a research note on Wednesday, November 16th. Finally, William Blair reaffirmed an “outperform” rating on shares of Acacia Communications in a research note on Tuesday, November 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $97.71.

About Acacia Communications

Acacia Communications, Inc is a provider of coherent interconnect products for communications networks relied upon by cloud infrastructure operators and content and communications service providers. The Company’s product family includes AC100-MSA, AC100-CFP, CFP2-ACO and AC400 Flex. Its AC100-MSA product family includes AC100-G, AC100-S and AC100-C.

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