Media headlines about Acacia Communications (NASDAQ:ACIA) have been trending somewhat positive on Friday, according to Accern Sentiment Analysis. The research firm rates the sentiment of media coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Acacia Communications earned a coverage optimism score of 0.11 on Accern’s scale. Accern also assigned press coverage about the technology company an impact score of 45.7280988141091 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the media stories that may have effected Accern Sentiment’s rankings:
A number of brokerages have commented on ACIA. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Acacia Communications in a research report on Monday, October 23rd. William Blair initiated coverage on shares of Acacia Communications in a research report on Tuesday, October 31st. They set a “buy” rating on the stock. AltaCorp Capital raised shares of Acacia Communications from a “neutral” rating to a “buy” rating in a research report on Friday, November 3rd. Zacks Investment Research cut shares of Acacia Communications from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 8th. Finally, B. Riley raised shares of Acacia Communications from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $44.00 to $49.00 in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $50.50.
Shares of Acacia Communications (NASDAQ:ACIA) opened at $39.73 on Friday. The company has a market cap of $1,560.00 and a PE ratio of 13.42. Acacia Communications has a one year low of $35.36 and a one year high of $69.57.
Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.11. Acacia Communications had a net margin of 27.98% and a return on equity of 25.29%. The firm had revenue of $105.00 million during the quarter, compared to analyst estimates of $104.35 million. During the same quarter last year, the business posted $1.01 EPS. The company’s revenue for the quarter was down 22.4% on a year-over-year basis. analysts expect that Acacia Communications will post 1.15 earnings per share for the current year.
In related news, insider Benny P. Mikkelsen sold 2,901 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $36.40, for a total value of $105,596.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Bhupendra C. Shah sold 1,231 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $36.40, for a total transaction of $44,808.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,932 shares of company stock valued at $2,598,576. 37.10% of the stock is currently owned by company insiders.
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About Acacia Communications
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.
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