Putnam FL Investment Management Co. Takes Position in Acacia Communications, Inc. (ACIA)

Putnam FL Investment Management Co. acquired a new stake in Acacia Communications, Inc. (NASDAQ:ACIA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,000 shares of the technology company’s stock, valued at approximately $283,000.

Several other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its position in shares of Acacia Communications by 117.2% in the third quarter. Russell Investments Group Ltd. now owns 93,009 shares of the technology company’s stock valued at $4,379,000 after buying an additional 50,195 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Acacia Communications by 14.5% in the third quarter. Bank of New York Mellon Corp now owns 91,286 shares of the technology company’s stock valued at $4,300,000 after buying an additional 11,526 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in shares of Acacia Communications by 9.2% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 1,405,876 shares of the technology company’s stock valued at $66,217,000 after buying an additional 118,621 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new position in shares of Acacia Communications in the third quarter valued at approximately $4,357,000. Finally, Pitcairn Co. acquired a new position in shares of Acacia Communications in the third quarter valued at approximately $216,000. 84.32% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Acacia Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 4th. B. Riley reaffirmed a “neutral” rating and set a $44.00 price target on shares of Acacia Communications in a research report on Wednesday, August 9th. MKM Partners dropped their price target on shares of Acacia Communications from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Thursday, October 5th. Cowen and Company reaffirmed a “buy” rating and set a $55.00 price target (down previously from $57.00) on shares of Acacia Communications in a research report on Friday, August 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Acacia Communications in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. Acacia Communications has a consensus rating of “Buy” and a consensus target price of $50.50.

In other news, insider Francis J. Murphy sold 598 shares of the company’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $44.32, for a total value of $26,503.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benny P. Mikkelsen sold 2,901 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $36.40, for a total transaction of $105,596.40. The disclosure for this sale can be found here. Insiders sold 23,481 shares of company stock valued at $1,036,684 over the last 90 days. Insiders own 37.10% of the company’s stock.

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Acacia Communications, Inc. (ACIA) traded down $0.05 during trading on Friday, hitting $37.55. 516,215 shares of the stock traded hands, compared to its average volume of 1,079,447. Acacia Communications, Inc. has a 52 week low of $35.36 and a 52 week high of $79.38. The firm has a market capitalization of $1,480.00 and a price-to-earnings ratio of 12.28.

Acacia Communications (NASDAQ:ACIA) last announced its earnings results on Thursday, November 2nd. The technology company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.11. The business had revenue of $105.00 million during the quarter, compared to the consensus estimate of $104.35 million. Acacia Communications had a net margin of 27.98% and a return on equity of 25.29%. The business’s quarterly revenue was down 22.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 earnings per share. sell-side analysts anticipate that Acacia Communications, Inc. will post 1.15 earnings per share for the current year.

Acacia Communications Profile

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

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