Acacia Communications (NASDAQ:ACIA) had its price objective reduced by analysts at MKM Partners to $25.00 in a research report issued on Wednesday. The firm presently has a “neutral” rating on the technology company’s stock. MKM Partners’ price target would indicate a potential downside of 2.08% from the stock’s current price.
A number of other research analysts have also recently commented on the company. Piper Jaffray started coverage on Acacia Communications in a research report on Tuesday, February 13th. They set an “overweight” rating and a $43.00 price target on the stock. Loop Capital started coverage on Acacia Communications in a research report on Monday, January 29th. They set a “buy” rating and a $50.00 price target on the stock. William Blair reaffirmed an “outperform” rating on shares of Acacia Communications in a research report on Wednesday, February 21st. Needham & Company LLC reaffirmed a “hold” rating and set a $38.00 price target on shares of Acacia Communications in a research report on Friday, February 23rd. Finally, Northland Securities reaffirmed a “buy” rating and set a $50.00 price target on shares of Acacia Communications in a research report on Monday, March 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. Acacia Communications has an average rating of “Hold” and an average price target of $36.73.
ACIA stock traded down $0.90 during midday trading on Wednesday, hitting $25.53. The company’s stock had a trading volume of 2,439,467 shares, compared to its average volume of 755,418. Acacia Communications has a 1 year low of $24.72 and a 1 year high of $54.37. The stock has a market cap of $1,026.82, a P/E ratio of 21.45, a P/E/G ratio of 4.47 and a beta of 0.88.
Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. Acacia Communications had a return on equity of 12.40% and a net margin of 10.00%. The business had revenue of $86.60 million for the quarter, compared to analysts’ expectations of $88.41 million. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The business’s revenue was down 39.2% on a year-over-year basis. equities research analysts forecast that Acacia Communications will post 0.28 earnings per share for the current year.
In related news, VP Christian J. Rasmussen sold 32,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $35.05, for a total transaction of $1,121,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Murugesan Shanmugaraj sold 1,898 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $38.48, for a total value of $73,035.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,791 shares of company stock worth $5,533,982. 33.20% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC bought a new position in Acacia Communications in the 4th quarter worth about $321,000. Element Capital Management LLC bought a new position in Acacia Communications in the 4th quarter worth about $3,571,000. Stone Ridge Asset Management LLC bought a new position in Acacia Communications in the 4th quarter worth about $239,000. Guggenheim Capital LLC increased its stake in Acacia Communications by 6.4% in the 4th quarter. Guggenheim Capital LLC now owns 26,818 shares of the technology company’s stock worth $973,000 after acquiring an additional 1,622 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Acacia Communications by 11.9% in the 4th quarter. Deutsche Bank AG now owns 145,797 shares of the technology company’s stock worth $5,281,000 after acquiring an additional 15,546 shares during the last quarter. Institutional investors own 62.10% of the company’s stock.
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About Acacia Communications
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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