Acacia Communications (NASDAQ:ACIA) Downgraded by ValuEngine

ValuEngine cut shares of Acacia Communications (NASDAQ:ACIA) from a strong-buy rating to a buy rating in a report published on Thursday morning, ValuEngine reports.

Several other equities analysts have also recently commented on ACIA. UBS Group cut shares of Acacia Communications from a buy rating to a neutral rating and increased their price target for the stock from $64.00 to $70.00 in a research report on Wednesday, July 10th. Zacks Investment Research cut shares of Acacia Communications from a strong-buy rating to a hold rating in a research report on Tuesday, July 9th. Northland Securities reaffirmed a buy rating and set a $65.00 price target on shares of Acacia Communications in a research report on Monday, July 1st. B. Riley cut shares of Acacia Communications from a buy rating to a neutral rating in a research report on Friday, April 26th. Finally, Citigroup cut shares of Acacia Communications from a buy rating to a neutral rating in a report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $58.07.

Shares of ACIA stock opened at $66.65 on Thursday. The company has a quick ratio of 4.65, a current ratio of 4.93 and a debt-to-equity ratio of 0.03. Acacia Communications has a one year low of $32.98 and a one year high of $67.49. The stock’s 50-day moving average is $56.09. The company has a market capitalization of $2.72 billion, a PE ratio of 110.37, a price-to-earnings-growth ratio of 3.68 and a beta of 1.73.

Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.11 by $0.26. Acacia Communications had a net margin of 5.63% and a return on equity of 4.96%. The business had revenue of $105.20 million for the quarter, compared to analysts’ expectations of $101.10 million. During the same quarter last year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 44.3% compared to the same quarter last year. On average, equities research analysts expect that Acacia Communications will post 0.9 earnings per share for the current fiscal year.

In other Acacia Communications news, VP Christian J. Rasmussen sold 12,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $46.77, for a total value of $561,240.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Francis J. Murphy sold 559 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $64.90, for a total transaction of $36,279.10. The disclosure for this sale can be found here. Insiders sold 152,295 shares of company stock worth $7,582,789 in the last three months. 9.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ACIA. Creative Planning increased its stake in shares of Acacia Communications by 1.6% in the first quarter. Creative Planning now owns 13,006 shares of the technology company’s stock valued at $746,000 after purchasing an additional 200 shares during the period. Redmond Asset Management LLC increased its stake in shares of Acacia Communications by 0.9% in the first quarter. Redmond Asset Management LLC now owns 22,563 shares of the technology company’s stock valued at $1,294,000 after purchasing an additional 205 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in shares of Acacia Communications by 0.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 35,150 shares of the technology company’s stock valued at $2,016,000 after purchasing an additional 260 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Acacia Communications by 2.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 10,951 shares of the technology company’s stock valued at $628,000 after purchasing an additional 310 shares during the period. Finally, Toth Financial Advisory Corp increased its stake in shares of Acacia Communications by 3.1% in the first quarter. Toth Financial Advisory Corp now owns 14,800 shares of the technology company’s stock valued at $849,000 after purchasing an additional 450 shares during the period. 75.74% of the stock is currently owned by hedge funds and other institutional investors.

Acacia Communications Company Profile

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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Analyst Recommendations for Acacia Communications (NASDAQ:ACIA)

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