Acacia Communications, Inc. (NASDAQ:ACIA) has been given an average recommendation of “Buy” by the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $50.50.
Several equities analysts have recently weighed in on ACIA shares. William Blair reiterated a “buy” rating on shares of Acacia Communications in a report on Tuesday. MKM Partners started coverage on Acacia Communications in a report on Tuesday, September 19th. They set a “buy” rating and a $64.00 price objective on the stock. AltaCorp Capital upgraded Acacia Communications from a “neutral” rating to a “buy” rating in a report on Friday, November 3rd. DA Davidson cut their price objective on Acacia Communications to $48.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Finally, B. Riley upgraded Acacia Communications from a “neutral” rating to a “buy” rating and boosted their target price for the company from $44.00 to $49.00 in a research note on Friday, November 3rd.
Acacia Communications (NASDAQ ACIA) traded down $0.12 during trading on Friday, hitting $40.26. The stock had a trading volume of 271,700 shares, compared to its average volume of 1,041,999. The firm has a market cap of $1,590.06, a price-to-earnings ratio of 13.92, a P/E/G ratio of 2.34 and a beta of 2.21. Acacia Communications has a 52 week low of $35.36 and a 52 week high of $74.75.
Acacia Communications (NASDAQ:ACIA) last posted its earnings results on Thursday, November 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.11. The company had revenue of $105.00 million during the quarter, compared to analyst estimates of $104.35 million. Acacia Communications had a return on equity of 25.29% and a net margin of 27.98%. The company’s revenue for the quarter was down 22.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 EPS. sell-side analysts anticipate that Acacia Communications will post 1.15 earnings per share for the current fiscal year.
In other Acacia Communications news, VP Bhupendra C. Shah sold 8,277 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $38.32, for a total transaction of $317,174.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Benny P. Mikkelsen sold 2,901 shares of the business’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 value of $105,596.40. The disclosure for this sale can be found here. Insiders sold a total of 22,625 shares of company stock worth $943,778 in the last 90 days. Company insiders own 37.10% of the company’s stock.
Several large investors have recently bought and sold shares of the business. Capital Research Global Investors increased its position in shares of 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 worth $138,991,000 after purchasing an additional 1,080,126 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its position in shares of 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 worth $66,217,000 after purchasing an additional 118,621 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Acacia Communications by 12.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,333,370 shares of the technology company’s stock worth $55,295,000 after acquiring an additional 145,531 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in shares of 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 worth $49,561,000 after acquiring an additional 941,232 shares during the last quarter. Finally, Koch Industries Inc. increased its holdings in shares of Acacia Communications by 9,918.7% during the 2nd quarter. Koch Industries Inc. now owns 522,678 shares of the technology company’s stock worth $510,000 after acquiring an additional 517,461 shares during the last quarter. 91.48% of the stock is currently owned by hedge funds and other institutional investors.
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Acacia Communications Company Profile
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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