Acacia Communications’ (ACIA) “Buy” Rating Reaffirmed at Needham & Company LLC

Acacia Communications, Inc. (NASDAQ:ACIA)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research note issued on Wednesday. They presently have a $125.00 target price on the stock. Needham & Company LLC’s price target suggests a potential upside of 117.24% from the stock’s current price.

Several other research analysts also recently issued reports on the stock. Cowen and Company reiterated an “outperform” rating and issued a $99.00 target price (up previously from $90.00) on shares of Acacia Communications in a research note on Thursday, November 10th. Zacks Investment Research upgraded shares of Acacia Communications from a “hold” rating to a “strong-buy” rating and set a $122.00 target price on the stock in a research note on Tuesday, September 13th. Deutsche Bank AG reiterated a “buy” rating on shares of Acacia Communications in a research note on Wednesday, November 30th. William Blair reiterated an “outperform” rating on shares of Acacia Communications in a research note on Tuesday, November 8th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Acacia Communications in a research note on Wednesday, October 12th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $97.71.

Analyst Recommendations for Acacia Communications (NASDAQ:ACIA)

Acacia Communications (NASDAQ:ACIA) traded up 3.18% during trading on Wednesday, hitting $59.37. 1,526,070 shares of the company’s stock traded hands. The stock has a market cap of $2.22 billion and a P/E ratio of 27.31. The company’s 50 day moving average is $67.84 and its 200-day moving average is $78.29. Acacia Communications has a 12 month low of $27.05 and a 12 month high of $128.73.

Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings data on Thursday, November 10th. The company reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.15. The business had revenue of $135.30 million for the quarter, compared to analysts’ expectations of $130.85 million. Acacia Communications had a net margin of 22.18% and a return on equity of 69.87%. The business’s revenue was up 106.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 earnings per share. On average, analysts predict that Acacia Communications will post $3.17 earnings per share for the current year.

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In other Acacia Communications news, VP Christian J. Rasmussen sold 98,846 shares of the stock in a transaction that occurred on Thursday, October 13th. The shares were sold at an average price of $96.50, for a total value of $9,538,639.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Murugesan Shanmugaraj sold 108,163 shares of the stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $96.50, for a total transaction of $10,437,729.50. The disclosure for this sale can be found here.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACIA. American International Group Inc. acquired a new position in Acacia Communications during the second quarter valued at $120,000. SG Americas Securities LLC purchased a new stake in shares of Acacia Communications during the third quarter worth about $191,000. Rhumbline Advisers purchased a new stake in shares of Acacia Communications during the second quarter worth about $201,000. Macguire Cheswick & Tuttle Investment Counsel LLC purchased a new stake in shares of Acacia Communications during the third quarter worth about $207,000. Finally, Winfield Associates Inc. boosted its stake in shares of Acacia Communications by 115.0% in the third quarter. Winfield Associates Inc. now owns 2,150 shares of the company’s stock worth $222,000 after buying an additional 1,150 shares during the period. Institutional investors and hedge funds own 51.42% of the company’s stock.

Acacia Communications Company Profile

Acacia Communications, Inc is a provider of coherent interconnect products for communications networks relied upon by cloud infrastructure operators and content and communications service providers. The Company’s product family includes AC100-MSA, AC100-CFP, CFP2-ACO and AC400 Flex. Its AC100-MSA product family includes AC100-G, AC100-S and AC100-C.

5 Day Chart for NASDAQ:ACIA

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