Christian J. Rasmussen Sells 12,000 Shares of Acacia Communications, Inc. (NASDAQ:ACIA) Stock

Acacia Communications, Inc. (NASDAQ:ACIA) VP Christian J. Rasmussen sold 12,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $46.77, for a total value of $561,240.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Christian J. Rasmussen also recently made the following trade(s):

  • On Thursday, March 7th, Christian J. Rasmussen sold 80,000 shares of Acacia Communications stock. The stock was sold at an average price of $53.27, for a total value of $4,261,600.00.

ACIA stock traded up $0.58 during trading hours on Friday, hitting $47.16. 2,684,900 shares of the stock traded hands, compared to its average volume of 794,452. The firm has a 50-day moving average of $47.94. Acacia Communications, Inc. has a one year low of $31.42 and a one year high of $62.18. The firm has a market capitalization of $1.89 billion, a P/E ratio of 314.40, a P/E/G ratio of 2.69 and a beta of 1.88. The company has a current ratio of 4.93, a quick ratio of 4.65 and a debt-to-equity ratio of 0.03.

Acacia Communications (NASDAQ:ACIA) last announced its earnings results on Thursday, May 2nd. The technology company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.26. Acacia Communications had a return on equity of 4.96% and a net margin of 5.63%. The business had revenue of $105.20 million during the quarter, compared to analysts’ expectations of $101.10 million. During the same quarter last year, the business posted $0.10 earnings per share. The company’s quarterly revenue was up 44.3% on a year-over-year basis. On average, equities research analysts anticipate that Acacia Communications, Inc. will post 0.92 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Penserra Capital Management LLC bought a new position in Acacia Communications during the first quarter valued at about $126,000. Picton Mahoney Asset Management acquired a new position in shares of Acacia Communications in the 4th quarter valued at $2,011,000. Millennium Management LLC boosted its position in shares of Acacia Communications by 354.2% in the 4th quarter. Millennium Management LLC now owns 639,280 shares of the technology company’s stock valued at $24,293,000 after purchasing an additional 498,540 shares during the period. Rhumbline Advisers boosted its position in shares of Acacia Communications by 44.6% in the 4th quarter. Rhumbline Advisers now owns 39,809 shares of the technology company’s stock valued at $1,513,000 after purchasing an additional 12,278 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Acacia Communications by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,018 shares of the technology company’s stock valued at $343,000 after purchasing an additional 7,043 shares during the period. 75.65% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on the company. ValuEngine raised Acacia Communications from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 1st. UBS Group increased their target price on Acacia Communications to $64.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Zacks Investment Research cut Acacia Communications from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 10th. Northland Securities reissued a “buy” rating and issued a $65.00 price target on shares of Acacia Communications in a research note on Sunday, April 21st. Finally, B. Riley cut Acacia Communications from a “buy” rating to a “neutral” rating in a research note on Friday, April 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $57.36.

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.

Featured Story: What does the Producer Price Index (PPI) tell investors?

Insider Buying and Selling by Quarter for Acacia Communications (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.