Analysts Set Acacia Communications, Inc. (ACIA) Target Price at $54.12

Shares of Acacia Communications, Inc. (NASDAQ:ACIA) have been assigned an average rating of “Hold” from the eighteen brokerages that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $55.12.

Several brokerages recently weighed in on ACIA. Craig Hallum began coverage on shares of Acacia Communications in a research note on Monday, March 4th. They issued a “buy” rating for the company. Zacks Investment Research raised shares of Acacia Communications from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Thursday, February 28th. UBS Group set a $51.00 target price on shares of Acacia Communications and gave the company a “buy” rating in a research note on Wednesday, February 20th. TheStreet raised shares of Acacia Communications from a “d+” rating to a “c-” rating in a research note on Monday, December 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Acacia Communications in a research note on Friday, February 22nd.

In other news, VP Bhupendra C. Shah sold 44,626 shares of the company’s stock in a transaction dated Wednesday, January 9th. The shares were sold at an average price of $41.35, for a total transaction of $1,845,285.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mehrdad Givehchi sold 21,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $57.88, for a total transaction of $1,215,480.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,548,725 shares of company stock valued at $80,597,703. Corporate insiders own 33.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can grew its holdings in shares of Acacia Communications by 100.6% during the 4th quarter. Great West Life Assurance Co. Can now owns 3,611 shares of the technology company’s stock worth $132,000 after purchasing an additional 1,811 shares during the period. BlueMountain Capital Management LLC purchased a new stake in shares of Acacia Communications during the 3rd quarter worth about $198,000. Advisor Group Inc. grew its holdings in shares of Acacia Communications by 1,121.6% during the 4th quarter. Advisor Group Inc. now owns 5,326 shares of the technology company’s stock worth $202,000 after purchasing an additional 4,890 shares during the period. Prudential Financial Inc. purchased a new stake in shares of Acacia Communications during the 4th quarter worth about $206,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Acacia Communications during the 4th quarter worth about $210,000. 80.24% of the stock is owned by institutional investors.

Shares of NASDAQ:ACIA traded up $0.01 during midday trading on Thursday, hitting $58.75. 367,345 shares of the stock were exchanged, compared to its average volume of 1,092,410. The company has a market capitalization of $2.35 billion, a PE ratio of 391.67, a price-to-earnings-growth ratio of 3.52 and a beta of 1.77. Acacia Communications has a twelve month low of $24.72 and a twelve month high of $59.55.

Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings results on Thursday, February 21st. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. The business had revenue of $107.10 million during the quarter, compared to the consensus estimate of $102.84 million. Acacia Communications had a return on equity of 3.02% and a net margin of 1.45%. The business’s revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.27 EPS. On average, equities analysts forecast that Acacia Communications will post 0.88 EPS for the current year.

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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