Acacia Communications (NASDAQ:ACIA)‘s stock had its “buy” rating reaffirmed by stock analysts at William Blair in a report issued on Tuesday. William Blair also issued estimates for Acacia Communications’ Q2 2018 earnings at $0.13 EPS and Q3 2018 earnings at $0.28 EPS.

Several other analysts have also recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Acacia Communications in a research report on Monday, October 23rd. AltaCorp Capital upgraded Acacia Communications from a “neutral” rating to a “buy” rating in a research report on Friday, November 3rd. Zacks Investment Research cut Acacia Communications from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 8th. Cowen upgraded Acacia Communications to an “outperform” rating and dropped their price target for the stock from $55.00 to $41.00 in a research report on Friday, November 3rd. Finally, B. Riley upgraded Acacia Communications from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $44.00 to $49.00 in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $50.50.

Acacia Communications (ACIA) traded up $0.13 during trading on Tuesday, hitting $40.10. The stock had a trading volume of 520,600 shares, compared to its average volume of 1,048,050. The stock has a market capitalization of $1,573.91, a PE ratio of 13.78, a PEG ratio of 2.32 and a beta of 2.21. Acacia Communications has a 1-year low of $35.36 and a 1-year high of $74.75.

Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.11. Acacia Communications had a return on equity of 25.29% and a net margin of 27.98%. The firm had revenue of $105.00 million during the quarter, compared to analysts’ expectations of $104.35 million. During the same period in the previous year, the business earned $1.01 earnings per share. The firm’s revenue for the quarter was down 22.4% on a year-over-year basis. equities analysts predict that Acacia Communications will post 1.15 earnings per share for the current fiscal year.

In other news, VP Bhupendra C. Shah sold 8,300 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $47.81, for a total value of $396,823.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Benny P. Mikkelsen sold 2,901 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $36.40, for a total value of $105,596.40. The disclosure for this sale can be found here. Insiders have sold 30,925 shares of company stock worth $1,313,875 in the last three months. 37.10% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Capital Research Global Investors lifted its stake in Acacia Communications by 47.6% during the 2nd quarter. Capital Research Global Investors now owns 3,351,605 shares of the technology company’s stock worth $138,991,000 after acquiring an additional 1,080,126 shares in the last quarter. Gilder Gagnon Howe & Co. LLC lifted its stake in Acacia Communications by 9.2% during the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,405,876 shares of the technology company’s stock worth $66,217,000 after acquiring an additional 118,621 shares in the last quarter. Vanguard Group Inc. lifted its stake in Acacia Communications by 12.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,333,370 shares of the technology company’s stock worth $55,295,000 after acquiring an additional 145,531 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in Acacia Communications by 847.7% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,052,261 shares of the technology company’s stock worth $49,561,000 after acquiring an additional 941,232 shares in the last quarter. Finally, Koch Industries Inc. lifted its stake in Acacia Communications by 9,918.7% during the 2nd quarter. Koch Industries Inc. now owns 522,678 shares of the technology company’s stock worth $510,000 after acquiring an additional 517,461 shares in the last quarter. 91.48% of the stock is currently owned by institutional investors and hedge funds.

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Acacia Communications Company Profile

Acacia Communications, Inc provides high-speed coherent interconnect products. The Company’s products include a series of low-power coherent digital signal processor application-specific integrated circuits (DSP ASICs), and silicon photonic integrated circuits (silicon PICs), which it has integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per second (Gbps) for use in long-haul, metro and inter-data center markets.

Analyst Recommendations for Acacia Communications (NASDAQ:ACIA)

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