Acacia Communications, Inc. (NASDAQ:ACIA) has received a consensus rating of “Hold” from the seventeen brokerages that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $60.96.
Several analysts have recently issued reports on the stock. Citigroup lowered shares of Acacia Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 16th. Rosenblatt Securities restated a “neutral” rating on shares of Acacia Communications in a research report on Tuesday, July 16th. Zacks Investment Research upgraded shares of Acacia Communications from a “hold” rating to a “strong-buy” rating and set a $76.00 price target for the company in a research report on Thursday. Finally, ValuEngine lowered shares of Acacia Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd.
Shares of Acacia Communications stock traded down $0.06 during trading on Friday, reaching $66.02. 1,582 shares of the company traded hands, compared to its average volume of 277,156. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.91 and a quick ratio of 3.60. Acacia Communications has a 1-year low of $36.00 and a 1-year high of $67.49. The company has a 50 day moving average price of $65.04 and a 200-day moving average price of $59.07. The firm has a market capitalization of $2.72 billion, a PE ratio of 439.93, a P/E/G ratio of 3.88 and a beta of 1.75.
Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.16. Acacia Communications had a net margin of 6.58% and a return on equity of 8.57%. The firm had revenue of $119.59 million for the quarter, compared to the consensus estimate of $116.15 million. Equities research analysts expect that Acacia Communications will post 1.26 earnings per share for the current year.
In other Acacia Communications news, VP Bhupendra C. Shah sold 1,161 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $64.41, for a total transaction of $74,780.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Benny P. Mikkelsen sold 2,736 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $64.41, for a total transaction of $176,225.76. The disclosure for this sale can be found here. Insiders have sold 70,070 shares of company stock valued at $4,959,948 in the last quarter. Company insiders own 9.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its holdings in shares of Acacia Communications by 5.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 11,551 shares of the technology company’s stock worth $545,000 after buying an additional 600 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Acacia Communications by 30.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 2,724 shares of the technology company’s stock valued at $127,000 after purchasing an additional 639 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in Acacia Communications in the second quarter valued at approximately $31,000. Rhumbline Advisers raised its stake in Acacia Communications by 1.7% in the third quarter. Rhumbline Advisers now owns 49,914 shares of the technology company’s stock valued at $3,264,000 after purchasing an additional 852 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in Acacia Communications by 76.3% in the second quarter. Royal Bank of Canada now owns 2,243 shares of the technology company’s stock valued at $106,000 after purchasing an additional 971 shares in the last quarter. 78.54% of the stock is currently owned by hedge funds and other institutional investors.
About Acacia Communications
Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the United States, China, Germany, Thailand, and internationally. The company offers embedded and pluggable module products consisting of optical interconnect modules with transmission speeds ranging from 100 to 1,200 gigabits per second for use in long-haul, metro, and inter-data center markets.
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