Acacia Communications, Inc. (NASDAQ:ACIA) has received a consensus rating of “Buy” from the fourteen brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $49.60.
A number of equities analysts have recently commented on the stock. UBS Group assumed coverage on shares of Acacia Communications in a report on Wednesday. They issued a “buy” rating and a $50.00 price target on the stock. Northland Securities set a $42.00 price target on shares of Acacia Communications and gave the stock a “buy” rating in a report on Monday. Loop Capital assumed coverage on shares of Acacia Communications in a report on Monday. They issued a “buy” rating and a $50.00 price target on the stock. William Blair reissued a “buy” rating on shares of Acacia Communications in a report on Tuesday, December 5th. Finally, Zacks Investment Research cut shares of Acacia Communications from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 8th.
Shares of Acacia Communications (NASDAQ:ACIA) traded up $2.63 during trading hours on Friday, hitting $39.54. 888,844 shares of the stock were exchanged, compared to its average volume of 358,661. The company has a market cap of $1,510.00 and a price-to-earnings ratio of 13.36. Acacia Communications has a 1 year low of $34.20 and a 1 year high of $69.57.
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 Zacks’ consensus estimate of $0.35 by $0.11. The firm had revenue of $105.00 million for the quarter, compared to analyst estimates of $104.35 million. Acacia Communications had a net margin of 27.98% and a return on equity of 25.29%. The business’s revenue for the quarter was down 22.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 EPS. analysts anticipate that Acacia Communications will post 1.15 earnings per share for the current year.
In other news, CEO Murugesan Shanmugaraj sold 6,975 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $38.23, for a total value of $266,654.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John F. Gavin sold 880 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 transaction of $32,032.00. The disclosure for this sale can be found here. Insiders sold a total of 101,770 shares of company stock valued at $3,709,696 in the last ninety days. 37.10% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Capital Research Global Investors boosted its position 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 valued at $138,991,000 after buying an additional 1,080,126 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its position 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 valued at $66,217,000 after buying an additional 118,621 shares during the period. Vanguard Group Inc. boosted its position 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 valued at $55,295,000 after buying an additional 145,531 shares during the period. Amundi Pioneer Asset Management Inc. boosted its position 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 valued at $49,561,000 after buying an additional 941,232 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Acacia Communications by 185.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 704,559 shares of the technology company’s stock valued at $25,526,000 after buying an additional 457,748 shares during the period. 91.16% of the stock is owned by institutional investors and hedge funds.
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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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