Acacia Research Corporation (NASDAQ: ACTG) subsidiary Parthenon Unified Memory Architecture LLC subsidiary has partnered with Huawei Technologies Co., Ltd. The companies have signed a settlement and patent license deal as a resolution to the patent infringement accusation on Huawei that was going on for long in the United States District Court for the Eastern District of Texas.
Meanwhile, company Chairman Robert L. Harris II bought 15,000 shares on November 27 at a per share average price of $5.71 at $85,650.00. He has 354,808 shares that are valued at $2,025,953.68 from the total stock now. The company paid its dividend for the quarter on November 30 and per share dividend of $0.125 was distributed among the investors of the company on November 6 as per a report.
Acacia Research Corp (NASDAQ:ACTG) 3Q15 results
Acacia Research Corp (NASDAQ:ACTG) declared the 3Q15 results on October 22 this year and a per share earnings of $0.23 was reported by the company. Zacks Investment Research had estimated the EPS at $0.13. In 3Q14, the earnings per share were reported at $0.10. In the last quarter, Acacia Research accumulated $13 million in revenue which was lower than the estimated $32.83 million. The revenue saw a dip of 65.1% as compared to 3Q15.
Many analysts have given their ratings and average target price for the firm. Zacks Investment Research gave a Buy rating to the shares from the previous Hold rating and set the price at $10.00. Barclays gave a equal weight rating to the company with a shares price target of $12 from the previous estimate of $15. Two other analysts have given a Hold rating while three a Buy rating. Acacia Research Corp has got a Buy rating on an average with the share target price at $14.80.
For more than two decades Acacia Research Corp (NASDAQ:ACTG) has been provided patent licensing solutions to the industry. The company works by establishing partnerships with owners of patents and inventors. The patent owners are benefited by this association as they get monetary benefits and efficient system for unlocking financial value of their products.