Acacia Communications, Inc. (NASDAQ:ACIA) has earned an average rating of “Buy” from the eighteen ratings firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $45.64.
Several equities analysts have recently weighed in on ACIA shares. Rosenblatt Securities lifted their price objective on Acacia Communications from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, September 26th. Citigroup boosted their price target on Acacia Communications to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 5th. Deutsche Bank boosted their price target on Acacia Communications from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 5th. Zacks Investment Research lowered Acacia Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Finally, ValuEngine raised Acacia Communications from a “hold” rating to a “buy” rating in a research report on Friday, November 2nd.
In other Acacia Communications news, VP Francis J. Murphy sold 5,841 shares of Acacia Communications stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $45.00, for a total transaction of $262,845.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Bhupendra C. Shah sold 44,626 shares of Acacia Communications stock in a transaction that occurred on Wednesday, January 9th. The stock was sold at an average price of $41.35, for a total value of $1,845,285.10. The disclosure for this sale can be found here. Insiders have sold a total of 58,479 shares of company stock worth $2,455,725 over the last 90 days. 33.20% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. purchased a new stake in Acacia Communications during the 2nd quarter worth approximately $164,000. BlueMountain Capital Management LLC purchased a new stake in Acacia Communications during the 3rd quarter worth approximately $198,000. GAM Holding AG bought a new stake in shares of Acacia Communications in the 3rd quarter valued at approximately $211,000. Janus Henderson Group PLC bought a new stake in shares of Acacia Communications in the 2nd quarter valued at approximately $214,000. Finally, Colrain Capital LLC bought a new stake in shares of Acacia Communications in the 3rd quarter valued at approximately $231,000. Institutional investors own 82.31% of the company’s stock.
NASDAQ ACIA opened at $42.69 on Friday. The stock has a market capitalization of $1.70 billion, a PE ratio of 35.87, a PEG ratio of 6.20 and a beta of 1.63. Acacia Communications has a 1-year low of $24.72 and a 1-year high of $47.26.
Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings data on Thursday, November 1st. The technology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.19. The business had revenue of $94.80 million for the quarter, compared to analyst estimates of $89.99 million. Acacia Communications had a positive return on equity of 2.11% and a negative net margin of 7.68%. The company’s revenue was down 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 EPS. Sell-side analysts anticipate that Acacia Communications will post 0.09 earnings per share for the current fiscal year.
Acacia Communications Company 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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