Today The Acacia Communications, Inc. (ACIA) Stake Cut by JPMorgan Chase & Co.

Today The Acacia Communications, Inc. (ACIA) Stake Cut by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in Acacia Communications, Inc. (NASDAQ:ACIA) by 45.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,876 shares of the company’s stock after selling 14,249 shares during the period. JPMorgan Chase & Co.’s holdings in Acacia Communications were worth $1,743,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Whale Rock Capital Management LLC acquired a new position in Acacia Communications during the second quarter worth approximately $29,368,000. Bloom Tree Partners LLC acquired a new position in Acacia Communications during the second quarter worth approximately $23,964,000. Lord Abbett & CO. LLC acquired a new position in Acacia Communications during the second quarter worth approximately $15,132,000. Gilder Gagnon Howe & Co. LLC acquired a new position in Acacia Communications during the second quarter worth approximately $12,294,000. Finally, FMR LLC acquired a new position in Acacia Communications during the second quarter worth approximately $12,136,000. 51.58% of the stock is currently owned by institutional investors.

Shares of Acacia Communications, Inc. (NASDAQ:ACIA) traded down 5.46% during midday trading on Wednesday, hitting $63.91. The company’s stock had a trading volume of 1,315,613 shares. The company has a market cap of $2.39 billion and a P/E ratio of 29.40. Acacia Communications, Inc. has a 1-year low of $27.05 and a 1-year high of $128.73. The company has a 50-day moving average price of $64.41 and a 200 day moving average price of $80.61.

Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings results on Thursday, November 10th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.15. Acacia Communications had a return on equity of 69.87% and a net margin of 22.18%. The company had revenue of $135.30 million for the quarter, compared to analyst estimates of $130.85 million. During the same quarter last year, the company posted $0.29 EPS. The company’s revenue for the quarter was up 106.8% compared to the same quarter last year. On average, equities research analysts predict that Acacia Communications, Inc. will post $3.17 EPS for the current year.

ACIA has been the topic of several research reports. Deutsche Bank AG reaffirmed a “buy” rating on shares of Acacia Communications in a research note on Wednesday, November 30th. Morgan Stanley initiated coverage on Acacia Communications in a research note on Thursday, December 8th. They set an “equal weight” rating and a $80.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 price target on shares of Acacia Communications in a research note on Saturday, November 26th. Cowen and Company reaffirmed an “outperform” rating and set a $99.00 price target (up previously from $90.00) on shares of Acacia Communications in a research note on Thursday, November 10th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Acacia Communications in a report on Wednesday, October 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $97.71.

In related news, insider Francis J. Murphy sold 3,785 shares of the firm’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $66.79, for a total transaction of $252,800.15. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Christian J. Rasmussen sold 77,526 shares of the firm’s stock in a transaction on Thursday, January 5th. The shares were sold at an average price of $61.16, for a total value of $4,741,490.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,220 shares of company stock worth $8,280,425.

About Acacia Communications

Acacia Communications, Inc is a provider of coherent interconnect products for communications networks relied upon by cloud infrastructure operators and content and communications service providers. The Company’s product family includes AC100-MSA, AC100-CFP, CFP2-ACO and AC400 Flex. Its AC100-MSA product family includes AC100-G, AC100-S and AC100-C.

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