Acacia Communications, Inc. (ACIA) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Acacia Communications, Inc. (NASDAQ:ACIA) have been assigned an average recommendation of “Buy” from the twelve research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $50.50.

ACIA has been the subject of several analyst reports. B. Riley reaffirmed a “neutral” rating and set a $44.50 price target on shares of Acacia Communications in a research note on Saturday, July 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Acacia Communications in a research note on Friday, August 4th. Cowen and Company reaffirmed a “buy” rating and set a $55.00 price target (down previously from $57.00) on shares of Acacia Communications in a research note on Friday, August 4th. Zacks Investment Research raised shares of Acacia Communications from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, MKM Partners initiated coverage on shares of Acacia Communications in a research note on Tuesday, September 19th. They set a “buy” rating and a $64.00 price target for the company.

In related news, insider Benny P. Mikkelsen sold 2,901 shares of Acacia Communications stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $36.40, for a total transaction of $105,596.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Bhupendra C. Shah sold 8,300 shares of Acacia Communications stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $44.59, for a total transaction of $370,097.00. The disclosure for this sale can be found here. Insiders have sold 23,481 shares of company stock valued at $1,036,684 in the last three months. 37.10% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. bought a new position in Acacia Communications during the third quarter worth $3,358,000. Magnetar Financial LLC bought a new position in Acacia Communications during the third quarter worth $238,000. Stifel Financial Corp bought a new position in Acacia Communications during the third quarter worth $218,000. Dimensional Fund Advisors LP acquired a new stake in Acacia Communications in the third quarter worth $1,857,000. Finally, Wells Fargo & Company MN grew its holdings in Acacia Communications by 5.3% in the third quarter. Wells Fargo & Company MN now owns 36,468 shares of the technology company’s stock worth $1,717,000 after purchasing an additional 1,839 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

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Acacia Communications (NASDAQ ACIA) traded down $0.05 during midday trading on Monday, hitting $37.55. 516,215 shares of the company traded hands, compared to its average volume of 1,079,447. The firm has a market cap of $1,480.00 and a price-to-earnings ratio of 12.28. Acacia Communications has a twelve month low of $35.36 and a twelve month high of $79.38.

Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.11. The business had revenue of $105.00 million during the quarter, compared to the consensus estimate of $104.35 million. Acacia Communications had a net margin of 27.98% and a return on equity of 25.29%. The firm’s revenue was down 22.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 EPS. equities research analysts forecast that Acacia Communications will post 1.15 EPS for the current year.

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.

Analyst Recommendations for Acacia Communications (NASDAQ:ACIA)

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