Acacia Communications, Inc. (ACIA) VP Mehrdad Givehchi Sells 48,722 Shares
Acacia Communications, Inc. (NASDAQ:ACIA) VP Mehrdad Givehchi sold 48,722 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $36.80, for a total value of $1,792,969.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Acacia Communications, Inc. (NASDAQ:ACIA) traded up $0.87 during trading hours on Thursday, hitting $38.44. 290,961 shares of the company were exchanged, compared to its average volume of 372,100. Acacia Communications, Inc. has a 1 year low of $35.36 and a 1 year high of $69.57. The company has a market cap of $1,510.00 and a P/E ratio of 12.99.
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 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 firm had revenue of $105.00 million during the quarter, compared to the consensus estimate of $104.35 million. During the same quarter last year, the firm earned $1.01 EPS. The firm’s revenue for the quarter was down 22.4% compared to the same quarter last year. equities research analysts predict that Acacia Communications, Inc. will post 1.15 EPS for the current year.
Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its stake in Acacia Communications by 37.0% in the second quarter. Russell Investments Group Ltd. now owns 42,814 shares of the technology company’s stock worth $1,775,000 after purchasing an additional 11,554 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Acacia Communications by 40.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 84,711 shares of the technology company’s stock worth $3,513,000 after purchasing an additional 24,282 shares during the last quarter. Rhumbline Advisers lifted its stake in Acacia Communications by 242.7% in the second quarter. Rhumbline Advisers now owns 20,583 shares of the technology company’s stock worth $854,000 after purchasing an additional 14,577 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Acacia Communications by 112.5% in the second quarter. Bank of New York Mellon Corp now owns 79,760 shares of the technology company’s stock worth $3,307,000 after purchasing an additional 42,232 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Acacia Communications by 319.5% in the second quarter. Legal & General Group Plc now owns 6,503 shares of the technology company’s stock worth $269,000 after purchasing an additional 4,953 shares during the last quarter. 91.49% of the stock is owned by hedge funds and other 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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