Alpine Group USVI LLC Takes $3.09 Million Position in Acacia Communications, Inc. (NASDAQ:ACIA)

Alpine Group USVI LLC bought a new stake in shares of Acacia Communications, Inc. (NASDAQ:ACIA) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 47,226 shares of the technology company’s stock, valued at approximately $3,089,000. Acacia Communications makes up about 0.8% of Alpine Group USVI LLC’s portfolio, making the stock its 20th largest position.

Several other institutional investors have also made changes to their positions in ACIA. Amundi Pioneer Asset Management Inc. grew its stake in shares of Acacia Communications by 29.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 506,360 shares of the technology company’s stock valued at $29,040,000 after acquiring an additional 113,995 shares in the last quarter. Cooper Creek Partners Management LLC acquired a new stake in shares of Acacia Communications during the first quarter valued at about $477,000. Marshall Wace LLP acquired a new stake in shares of Acacia Communications during the first quarter valued at about $1,730,000. Marshall Wace North America L.P. acquired a new position in Acacia Communications in the first quarter worth about $2,193,000. Finally, Hall Kathryn A. acquired a new position in Acacia Communications in the first quarter worth about $603,000. Institutional investors own 77.74% of the company’s stock.

ACIA stock traded down $0.23 during midday trading on Friday, reaching $64.74. The company had a trading volume of 13,526 shares, compared to its average volume of 404,795. The company has a quick ratio of 3.82, a current ratio of 4.18 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average price of $64.20 and a 200 day moving average price of $58.09. Acacia Communications, Inc. has a fifty-two week low of $32.98 and a fifty-two week high of $67.49. The firm has a market capitalization of $2.66 billion, a PE ratio of 432.27, a P/E/G ratio of 3.74 and a beta of 1.76.

Acacia Communications (NASDAQ:ACIA) last issued its earnings results on Tuesday, August 6th. The technology company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.04. Acacia Communications had a return on equity of 7.30% and a net margin of 5.30%. The company had revenue of $111.18 million during the quarter, compared to the consensus estimate of $108.68 million. Research analysts predict that Acacia Communications, Inc. will post 0.87 EPS for the current year.

In other Acacia Communications news, major shareholder Meridian Venture Partners Ii L sold 61,697 shares of Acacia Communications stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $71.64, for a total value of $4,419,973.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Francis J. Murphy sold 5,008 shares of Acacia Communications stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $63.66, for a total value of $318,809.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,078 shares of company stock valued at $5,278,763. 9.30% of the stock is currently owned by insiders.

A number of research firms recently commented on ACIA. Piper Jaffray Companies downgraded Acacia Communications from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $68.00 to $70.00 in a research note on Tuesday, July 9th. Rosenblatt Securities reiterated a “neutral” rating on shares of Acacia Communications in a research note on Tuesday, July 16th. UBS Group downgraded Acacia Communications from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $64.00 to $70.00 in a research note on Wednesday, July 10th. ValuEngine downgraded Acacia Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Needham & Company LLC downgraded Acacia Communications from a “buy” rating to a “hold” rating and set a $64.91 price target for the company. in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $58.07.

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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Institutional Ownership by Quarter for Acacia Communications (NASDAQ:ACIA)

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