Acacia Communications, Inc. (ACIA) Receives Average Rating of “Buy” from Analysts

Acacia Communications, Inc. (NASDAQ:ACIA) has received an average recommendation of “Buy” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $50.50.

A number of research analysts have commented on ACIA shares. Zacks Investment Research upgraded Acacia Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 4th. MKM Partners cut their price target on Acacia Communications from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Thursday, October 5th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Acacia Communications in a research note on Monday, October 23rd. William Blair started coverage on Acacia Communications in a research note on Tuesday, October 31st. They issued a “buy” rating on the stock. Finally, B. Riley raised Acacia Communications from a “neutral” rating to a “buy” rating and increased their price target for the company from $44.00 to $49.00 in a research note on Friday, November 3rd.

Acacia Communications (ACIA) traded up $0.40 during midday trading on Friday, reaching $36.25. The company had a trading volume of 140,771 shares, compared to its average volume of 290,691. The company has a market cap of $1,411.68, a price-to-earnings ratio of 12.25, a PEG ratio of 2.69 and a beta of 2.28. Acacia Communications has a 1-year low of $35.36 and a 1-year high of $69.57.

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

In related news, CFO John F. Gavin sold 880 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $36.40, for a total transaction of $32,032.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Bhupendra C. Shah sold 1,231 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $36.40, for a total value of $44,808.40. The disclosure for this sale can be found here. Insiders have sold a total of 69,770 shares of company stock worth $2,588,096 in the last ninety days. 37.10% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its stake in shares of Acacia Communications by 40.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 84,711 shares of the technology company’s stock valued at $3,513,000 after purchasing an additional 24,282 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Acacia Communications by 112.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 79,760 shares of the technology company’s stock valued at $3,307,000 after acquiring an additional 42,232 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Acacia Communications by 319.5% in the 2nd quarter. Legal & General Group Plc now owns 6,503 shares of the technology company’s stock valued at $269,000 after acquiring an additional 4,953 shares in the last quarter. Swiss National Bank bought a new position in shares of Acacia Communications in the 2nd quarter valued at about $1,198,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Acacia Communications by 4.5% in the 2nd quarter. Wells Fargo & Company MN now owns 34,629 shares of the technology company’s stock valued at $1,436,000 after acquiring an additional 1,481 shares in the last quarter. 91.70% 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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