Acacia Communications, Inc. (NASDAQ:ACIA) VP Mehrdad Givehchi sold 1,629 shares of Acacia Communications stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $56.05, for a total value of $91,305.45. The sale was disclosed in a filing with the SEC, which is available at this link.
Mehrdad Givehchi also recently made the following trade(s):
- On Monday, February 4th, Mehrdad Givehchi sold 1,808 shares of Acacia Communications stock. The stock was sold at an average price of $42.34, for a total value of $76,550.72.
NASDAQ:ACIA traded up $2.44 during mid-day trading on Thursday, hitting $58.09. 1,560,175 shares of the stock were exchanged, compared to its average volume of 763,227. The stock has a market cap of $2.24 billion, a P/E ratio of 387.27, a PEG ratio of 3.56 and a beta of 1.76. Acacia Communications, Inc. has a fifty-two week low of $24.72 and a fifty-two week high of $58.55.
Several research analysts have recently commented on the company. MKM Partners lifted their target price on Acacia Communications to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 25th. UBS Group set a $51.00 target price on Acacia Communications and gave the stock a “buy” rating in a research note on Wednesday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of Acacia Communications in a research note on Friday, February 22nd. Piper Jaffray Companies upgraded Acacia Communications to an “overweight” rating and set a $59.00 target price for the company in a research note on Friday, February 22nd. Finally, B. Riley downgraded Acacia Communications from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $45.00 to $50.50 in a research note on Friday, February 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $51.25.
Large investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can lifted its holdings in Acacia Communications by 100.6% during the 4th quarter. Great West Life Assurance Co. Can now owns 3,611 shares of the technology company’s stock worth $132,000 after purchasing an additional 1,811 shares during the last quarter. BlueMountain Capital Management LLC acquired a new stake in Acacia Communications during the 3rd quarter worth approximately $198,000. GAM Holding AG acquired a new stake in Acacia Communications during the 3rd quarter worth approximately $211,000. Advisor Group Inc. lifted its holdings in Acacia Communications by 1,121.6% during the 4th quarter. Advisor Group Inc. now owns 5,326 shares of the technology company’s stock worth $202,000 after purchasing an additional 4,890 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new stake in Acacia Communications during the 4th quarter worth approximately $206,000. 79.94% of the stock is owned by institutional investors and hedge funds.
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Acacia Communications Company Profile
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.
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