Acacia Communications, Inc. (NASDAQ:ACIA) insider Francis J. Murphy sold 7,821 shares of Acacia Communications stock in a transaction on Friday, March 9th. The shares were sold at an average price of $40.00, for a total value of $312,840.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Francis J. Murphy also recently made the following trade(s):
- On Monday, January 22nd, Francis J. Murphy sold 436 shares of Acacia Communications stock. The shares were sold at an average price of $36.75, for a total value of $16,023.00.
- On Wednesday, January 3rd, Francis J. Murphy sold 348 shares of Acacia Communications stock. The shares were sold at an average price of $36.89, for a total value of $12,837.72.
Shares of Acacia Communications, Inc. (ACIA) traded down $0.40 during mid-day trading on Tuesday, reaching $44.44. The company’s stock had a trading volume of 1,658,704 shares, compared to its average volume of 645,445. Acacia Communications, Inc. has a 52-week low of $33.68 and a 52-week high of $61.15. The company has a market capitalization of $1,880.00 and a price-to-earnings ratio of 26.61.
Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its stake in Acacia Communications by 14.5% during the third quarter. Bank of New York Mellon Corp now owns 91,286 shares of the technology company’s stock worth $4,300,000 after purchasing an additional 11,526 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Acacia Communications during the third quarter worth about $3,358,000. Ameriprise Financial Inc. bought a new stake in Acacia Communications during the third quarter worth about $4,386,000. Oak Ridge Investments LLC bought a new stake in shares of Acacia Communications in the 3rd quarter valued at about $12,992,000. Finally, California State Teachers Retirement System lifted its stake in shares of Acacia Communications by 218.9% in the 2nd quarter. California State Teachers Retirement System now owns 32,780 shares of the technology company’s stock valued at $1,359,000 after acquiring an additional 22,500 shares during the last quarter. 89.22% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently issued reports on ACIA. Piper Jaffray Companies began coverage on Acacia Communications in a research note on Tuesday, February 13th. They set an “overweight” rating and a $43.00 price objective for the company. Northland Securities set a $42.00 price objective on Acacia Communications and gave the company a “buy” rating in a research note on Monday, January 29th. Loop Capital began coverage on Acacia Communications in a research note on Monday, January 29th. They set a “buy” rating and a $50.00 price objective for the company. DA Davidson lowered Acacia Communications from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $48.00 to $38.00 in a research note on Friday, February 23rd. Finally, Morgan Stanley set a $37.00 price objective on Acacia Communications and gave the company a “hold” rating in a research note on Friday, February 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $46.09.
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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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