Mainstay Capital Management LLC ADV Acquires 16,905 Shares of Acacia Communications, Inc. (NASDAQ:ACIA)

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Mainstay Capital Management LLC ADV raised its holdings in shares of Acacia Communications, Inc. (NASDAQ:ACIA) by 3,381.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,405 shares of the technology company’s stock after purchasing an additional 16,905 shares during the period. Mainstay Capital Management LLC ADV’s holdings in Acacia Communications were worth $500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ACIA. Swiss National Bank raised its position in Acacia Communications by 6.6% during the first quarter. Swiss National Bank now owns 30,800 shares of the technology company’s stock valued at $1,185,000 after acquiring an additional 1,900 shares in the last quarter. Eagle Asset Management Inc. raised its position in Acacia Communications by 1.3% during the first quarter. Eagle Asset Management Inc. now owns 178,258 shares of the technology company’s stock valued at $6,855,000 after acquiring an additional 2,259 shares in the last quarter. Northern Trust Corp raised its position in Acacia Communications by 4.9% during the first quarter. Northern Trust Corp now owns 219,567 shares of the technology company’s stock valued at $8,445,000 after acquiring an additional 10,179 shares in the last quarter. BlackRock Inc. raised its position in Acacia Communications by 3.8% during the first quarter. BlackRock Inc. now owns 1,217,694 shares of the technology company’s stock valued at $46,831,000 after acquiring an additional 44,827 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Acacia Communications by 69.6% during the first quarter. JPMorgan Chase & Co. now owns 201,240 shares of the technology company’s stock valued at $7,740,000 after acquiring an additional 82,569 shares in the last quarter. Institutional investors and hedge funds own 90.83% of the company’s stock.

Several equities analysts recently weighed in on ACIA shares. Zacks Investment Research lowered shares of Acacia Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. B. Riley raised their price objective on shares of Acacia Communications from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. Rosenblatt Securities set a $46.00 price objective on shares of Acacia Communications and gave the company a “buy” rating in a research report on Sunday, August 5th. DA Davidson raised their price objective on shares of Acacia Communications from $30.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, August 3rd. Finally, Cowen reissued a “buy” rating and issued a $44.00 price target on shares of Acacia Communications in a research report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $40.39.

Shares of NASDAQ:ACIA traded up $0.96 during trading on Friday, reaching $37.60. The stock had a trading volume of 376,774 shares, compared to its average volume of 760,500. Acacia Communications, Inc. has a 52 week low of $24.72 and a 52 week high of $46.59. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 31.60 and a beta of 1.33.

Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings data on Thursday, August 2nd. The technology company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $65.00 million for the quarter, compared to the consensus estimate of $63.35 million. Acacia Communications had a negative net margin of 4.30% and a positive return on equity of 2.66%. Acacia Communications’s quarterly revenue was down 17.6% on a year-over-year basis. During the same quarter last year, the company posted $0.26 earnings per share. As a group, research analysts expect that Acacia Communications, Inc. will post -0.13 EPS for the current fiscal year.

In other news, CEO Murugesan Shanmugaraj sold 2,708 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $39.32, for a total value of $106,478.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Mehrdad Givehchi sold 2,707 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $39.32, for a total transaction of $106,439.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,683 shares of company stock worth $260,862. 33.20% of the stock is currently owned by corporate insiders.

Acacia Communications Profile

Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific region. Its products include a series of low-power coherent digital signal processor application-specific integrated circuits and silicon photonic integrated circuits that are integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 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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