Dimensional Fund Advisors LP purchased a new position in Acacia Communications, Inc. (NASDAQ:ACIA) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 39,425 shares of the technology company’s stock, valued at approximately $1,857,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. First Trust Advisors LP bought a new position in shares of Acacia Communications in the third quarter worth $201,000. Pitcairn Co. bought a new position in shares of Acacia Communications in the third quarter worth $216,000. Commonwealth Equity Services Inc bought a new position in shares of Acacia Communications in the third quarter worth $232,000. Thompson Davis & CO. Inc. increased its position in shares of Acacia Communications by 4,100.0% in the third quarter. Thompson Davis & CO. Inc. now owns 5,250 shares of the technology company’s stock worth $247,000 after purchasing an additional 5,125 shares during the period. Finally, Putnam FL Investment Management Co. bought a new position in shares of Acacia Communications in the third quarter worth $283,000. Institutional investors own 90.93% of the company’s stock.
A number of research analysts recently commented on the company. UBS Group assumed coverage on Acacia Communications in a research report on Wednesday, January 31st. They issued a “buy” rating and a $50.00 price target on the stock. Northland Securities set a $42.00 target price on Acacia Communications and gave the company a “buy” rating in a research report on Monday, January 29th. Loop Capital started coverage on Acacia Communications in a research report on Monday, January 29th. They issued a “buy” rating and a $50.00 target price on the stock. William Blair reiterated a “buy” rating on shares of Acacia Communications in a research report on Tuesday, December 5th. Finally, Zacks Investment Research cut Acacia Communications from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $49.60.
Acacia Communications (NASDAQ:ACIA) last released its earnings results on Thursday, November 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.11. Acacia Communications had a return on equity of 25.29% and a net margin of 27.98%. The firm had revenue of $105.00 million for the quarter, compared to analysts’ expectations of $104.35 million. During the same quarter in the previous year, the business posted $1.01 earnings per share. The business’s revenue for the quarter was down 22.4% on a year-over-year basis. equities analysts expect that Acacia Communications, Inc. will post 1.15 earnings per share for the current fiscal year.
In other news, VP Bhupendra C. Shah sold 8,277 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $38.32, for a total transaction of $317,174.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Christian J. Rasmussen sold 32,000 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $35.05, for a total value of $1,121,600.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,770 shares of company stock worth $3,709,696. Company insiders own 37.10% of the company’s stock.
TRADEMARK VIOLATION WARNING: This report was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this report on another domain, it was illegally stolen and republished in violation of U.S. and international trademark & copyright legislation. The original version of this report can be accessed at https://sportsperspectives.com/2018/02/09/dimensional-fund-advisors-lp-takes-position-in-acacia-communications-inc-acia.html.
Acacia Communications Company 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.
Want to see what other hedge funds are holding ACIA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acacia Communications, Inc. (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.