Harvest Management LLC boosted its position in Acacia Communications, Inc. (NASDAQ:ACIA) by 5.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,500 shares of the technology company’s stock after buying an additional 2,400 shares during the quarter. Acacia Communications accounts for approximately 3.3% of Harvest Management LLC’s holdings, making the stock its 9th biggest holding. Harvest Management LLC owned about 0.11% of Acacia Communications worth $2,999,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prudential Financial Inc. increased its position in shares of Acacia Communications by 5.2% in the 2nd quarter. Prudential Financial Inc. now owns 3,351 shares of the technology company’s stock worth $225,000 after purchasing an additional 165 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Acacia Communications by 13.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,830 shares of the technology company’s stock valued at $257,000 after buying an additional 466 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Acacia Communications by 27.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,708 shares of the technology company’s stock valued at $181,000 after buying an additional 586 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Acacia Communications by 7.8% during the 1st quarter. Victory Capital Management Inc. now owns 9,540 shares of the technology company’s stock valued at $641,000 after buying an additional 693 shares during the last quarter. Finally, Arizona State Retirement System grew its position in shares of Acacia Communications by 9.0% during the 2nd quarter. Arizona State Retirement System now owns 8,452 shares of the technology company’s stock valued at $568,000 after buying an additional 701 shares during the last quarter. 85.75% of the stock is owned by institutional investors.
ACIA traded down $0.12 during trading on Monday, reaching $67.17. The company had a trading volume of 257 shares, compared to its average volume of 560,567. Acacia Communications, Inc. has a 12 month low of $60.62 and a 12 month high of $69.13. The business’s fifty day moving average price is $67.74 and its 200 day moving average price is $67.77. The company has a market cap of $2.83 billion, a P/E ratio of 48.76 and a beta of 0.85.
Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings results on Monday, August 10th. The technology company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.15. Acacia Communications had a net margin of 11.71% and a return on equity of 10.87%. The firm had revenue of $135.22 million for the quarter, compared to analyst estimates of $131.79 million. On average, research analysts expect that Acacia Communications, Inc. will post 1.76 EPS for the current fiscal year.
In other Acacia Communications news, VP Francis J. Murphy sold 936 shares of Acacia Communications stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $67.96, for a total value of $63,610.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 6,505 shares of company stock worth $438,232. Insiders own 9.30% of the company’s stock.
Several research analysts have commented on the stock. Zacks Investment Research cut shares of Acacia Communications from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 13th. BidaskClub lowered shares of Acacia Communications from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 13th.
Acacia Communications Company Profile
Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the United States, China, Germany, Thailand, and internationally. The company offers embedded and pluggable module products consisting of optical interconnect modules with transmission speeds ranging from 100 to 1,200 gigabits per second for use in long-haul, metro, and inter-data center markets.
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