Voya Investment Management LLC cut its stake in Acacia Communications, Inc. (NASDAQ:ACIA) by 98.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,409 shares of the technology company’s stock after selling 533,383 shares during the period. Voya Investment Management LLC’s holdings in Acacia Communications were worth $362,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Northern Trust Corp increased its position in shares of Acacia Communications by 4.9% during the first quarter. Northern Trust Corp now owns 219,567 shares of the technology company’s stock worth $8,445,000 after acquiring an additional 10,179 shares during the period. BlackRock Inc. increased its position in shares of Acacia Communications by 3.8% during the first quarter. BlackRock Inc. now owns 1,217,694 shares of the technology company’s stock worth $46,831,000 after acquiring an additional 44,827 shares during the period. JPMorgan Chase & Co. increased its position in shares of Acacia Communications by 69.6% during the first quarter. JPMorgan Chase & Co. now owns 201,240 shares of the technology company’s stock worth $7,740,000 after acquiring an additional 82,569 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Acacia Communications by 10.6% during the first quarter. New York State Common Retirement Fund now owns 21,900 shares of the technology company’s stock valued at $842,000 after purchasing an additional 2,100 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of Acacia Communications by 140.5% during the first quarter. UBS Group AG now owns 42,519 shares of the technology company’s stock valued at $1,635,000 after purchasing an additional 24,840 shares in the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.

ACIA traded down $0.72 during trading on Friday, hitting $45.92. The stock had a trading volume of 810,156 shares, compared to its average volume of 741,639. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 38.59, a price-to-earnings-growth ratio of 45.54 and a beta of 1.68. Acacia Communications, Inc. has a twelve month low of $24.72 and a twelve month high of $47.26.

Acacia Communications (NASDAQ:ACIA) last announced its earnings results on Thursday, November 1st. The technology company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.19. The company had revenue of $94.80 million during the quarter, compared to the consensus estimate of $89.99 million. Acacia Communications had a negative net margin of 7.68% and a positive return on equity of 2.11%. Acacia Communications’s revenue was down 9.7% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share. As a group, research analysts anticipate that Acacia Communications, Inc. will post 0.08 earnings per share for the current fiscal year.

In other Acacia Communications news, CEO Murugesan Shanmugaraj sold 2,708 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $39.32, for a total value of $106,478.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Francis J. Murphy sold 5,841 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $45.00, for a total transaction of $262,845.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,515 shares of company stock valued at $525,121. Corporate insiders own 33.20% of the company’s stock.

A number of equities analysts have recently issued reports on ACIA shares. Piper Jaffray Companies upgraded shares of Acacia Communications from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $38.00 to $46.00 in a research note on Thursday, August 23rd. Rosenblatt Securities increased their price objective on shares of Acacia Communications from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, September 26th. Cowen reiterated a “buy” rating and set a $44.00 price objective on shares of Acacia Communications in a research note on Friday, August 3rd. Bank of America downgraded shares of Acacia Communications from a “neutral” rating to an “underperform” rating in a research note on Friday, August 24th. They noted that the move was a valuation call. Finally, UBS Group set a $48.00 price objective on shares of Acacia Communications and gave the company a “buy” rating in a research note on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $43.97.

COPYRIGHT VIOLATION WARNING: This story was first reported by Marea Informative and is the property of of Marea Informative. If you are viewing this story on another publication, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this story can be read at https://www.mareainformativa.com/2018/11/10/voya-investment-management-llc-has-362000-position-in-acacia-communications-inc-acia-updated-updated-updated.html.

About Acacia Communications

Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific region. Its products include a series of low-power coherent digital signal processor application-specific integrated circuits and silicon photonic integrated circuits that are integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per second for use in long-haul, metro, and inter-data center markets.

Further Reading: How is an ETF different from a mutual fund?

Institutional Ownership by Quarter for Acacia Communications (NASDAQ:ACIA)

Receive News & Ratings for Acacia Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acacia Communications and related companies with MarketBeat.com's FREE daily email newsletter.