Alpine Group USVI LLC acquired a new stake in shares of Acacia Communications, Inc. (NASDAQ:ACIA) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 47,226 shares of the technology company’s stock, valued at approximately $3,089,000. Acacia Communications comprises 0.8% of Alpine Group USVI LLC’s portfolio, making the stock its 20th largest holding. Alpine Group USVI LLC owned approximately 0.12% of Acacia Communications as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State Board of Administration of Florida Retirement System raised its stake in Acacia Communications by 5.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 11,551 shares of the technology company’s stock valued at $545,000 after acquiring an additional 600 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Acacia Communications by 30.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 2,724 shares of the technology company’s stock worth $127,000 after buying an additional 639 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Acacia Communications during the 2nd quarter worth approximately $31,000. Royal Bank of Canada raised its stake in shares of Acacia Communications by 76.3% during the 2nd quarter. Royal Bank of Canada now owns 2,243 shares of the technology company’s stock worth $106,000 after buying an additional 971 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Acacia Communications by 534.7% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,904 shares of the technology company’s stock worth $89,000 after buying an additional 1,604 shares in the last quarter. 77.74% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on the company. UBS Group downgraded Acacia Communications from a “buy” rating to a “neutral” rating and increased their target price for the stock from $64.00 to $70.00 in a research note on Wednesday, July 10th. Piper Jaffray Companies downgraded Acacia Communications from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $68.00 to $70.00 in a research note on Tuesday, July 9th. Rosenblatt Securities reissued a “neutral” rating on shares of Acacia Communications in a research note on Tuesday, July 16th. Northland Securities reissued a “buy” rating and set a $65.00 target price on shares of Acacia Communications in a research note on Monday, July 1st. Finally, ValuEngine downgraded Acacia Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $58.07.
Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $111.18 million for the quarter, compared to analysts’ expectations of $108.68 million. Acacia Communications had a return on equity of 7.30% and a net margin of 5.30%. On average, sell-side analysts anticipate that Acacia Communications, Inc. will post 0.87 earnings per share for the current fiscal year.
In other Acacia Communications news, VP Francis J. Murphy sold 5,008 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $63.66, for a total transaction of $318,809.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Meridian Venture Partners Ii L sold 61,697 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $71.64, for a total value of $4,419,973.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,078 shares of company stock worth $5,278,763. Insiders own 9.30% of the company’s stock.
About Acacia Communications
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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