Shares of Acacia Communications, Inc. (NASDAQ:ACIA) have earned an average rating of “Buy” from the twelve analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $61.88.
Several analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price objective (down from $100.00) on shares of Acacia Communications in a report on Wednesday, May 10th. Cowen and Company decreased their price objective on Acacia Communications from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Wednesday, May 10th. B. Riley reaffirmed a “neutral” rating and set a $44.00 price objective on shares of Acacia Communications in a report on Wednesday, August 9th. William Blair reaffirmed an “outperform” rating on shares of Acacia Communications in a report on Monday, May 8th. Finally, Northland Securities reaffirmed a “buy” rating and set a $50.00 price objective on shares of Acacia Communications in a report on Friday, June 23rd.
In other news, insider Francis J. Murphy sold 8,380 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $48.00, for a total transaction of $402,240.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO John F. Gavin sold 858 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $44.46, for a total value of $38,146.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,922 shares of company stock worth $783,667. Corporate insiders own 37.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in ACIA. Wellington Management Group LLP bought a new position in Acacia Communications during the first quarter valued at $72,279,000. Capital Research Global Investors increased its position in Acacia Communications by 47.6% in the second 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 in the last quarter. Morgan Stanley increased its position in Acacia Communications by 303.5% in the first quarter. Morgan Stanley now owns 765,219 shares of the technology company’s stock valued at $44,857,000 after buying an additional 575,574 shares in the last quarter. Koch Industries Inc. increased its position in Acacia Communications by 9,918.7% in the second quarter. Koch Industries Inc. now owns 522,678 shares of the technology company’s stock valued at $510,000 after buying an additional 517,461 shares in the last quarter. Finally, FMR LLC increased its position in Acacia Communications by 61.2% in the first quarter. FMR LLC now owns 1,332,907 shares of the technology company’s stock valued at $78,135,000 after buying an additional 506,153 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Acacia Communications (NASDAQ ACIA) traded down 1.47% on Wednesday, reaching $48.11. 355,306 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $44.76 and a 200 day moving average price of $48.78. The firm has a market cap of $1.89 billion, a PE ratio of 16.45 and a beta of 3.38. Acacia Communications has a one year low of $38.50 and a one year high of $128.73.
Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.08. The business had revenue of $78.90 million for the quarter, compared to analysts’ expectations of $78.17 million. Acacia Communications had a return on equity of 34.46% and a net margin of 29.65%. The company’s revenue for the quarter was down 32.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. Analysts expect that Acacia Communications will post $1.88 EPS for the current fiscal year.
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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