Acacia Communications, Inc. (NASDAQ:ACIA) has been assigned a $50.00 price target by analysts at Northland Securities in a research note issued to investors on Saturday, July 22nd. The brokerage presently has a “buy” rating on the technology company’s stock. Northland Securities’ price objective would indicate a potential upside of 12.31% from the company’s current price.
Several other research firms have also recently weighed in on ACIA. B. Riley reiterated a “neutral” rating and set a $47.00 price objective on shares of Acacia Communications in a research report on Saturday, May 13th. Cowen and Company reduced their target price on Acacia Communications from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Wednesday, May 10th. Deutsche Bank AG set a $60.00 target price on Acacia Communications and gave the stock a “buy” rating in a report on Wednesday, May 10th. William Blair reissued a “buy” rating on shares of Acacia Communications in a report on Thursday, June 15th. Finally, ValuEngine lowered Acacia Communications from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $62.17.
Shares of Acacia Communications (NASDAQ:ACIA) traded down 3.99% during mid-day trading on Friday, hitting $44.52. 1,168,964 shares of the company’s stock traded hands. The stock has a market cap of $1.72 billion, a P/E ratio of 13.10 and a beta of 3.80. The stock has a 50 day moving average price of $42.74 and a 200-day moving average price of $50.84. Acacia Communications has a 1-year low of $38.50 and a 1-year high of $128.73.
Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings results on Tuesday, May 9th. The technology company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.34. Acacia Communications had a return on equity of 43.80% and a net margin of 30.02%. The business had revenue of $114.67 million for the quarter, compared to analysts’ expectations of $112.46 million. During the same quarter in the prior year, the business earned $0.44 EPS. The firm’s revenue for the quarter was up 35.7% on a year-over-year basis. Equities research analysts anticipate that Acacia Communications will post $1.90 EPS for the current fiscal year.
In other Acacia Communications news, Director John Ritchie sold 2,640 shares of Acacia Communications stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $47.20, for a total value of $124,608.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John F. Gavin sold 4,634 shares of Acacia Communications stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $48.54, for a total value of $224,934.36. The disclosure for this sale can be found here. Insiders sold 34,507 shares of company stock valued at $1,666,685 over the last quarter.
A number of large investors have recently made changes to their positions in ACIA. Russell Investments Group Ltd. purchased a new stake in shares of Acacia Communications during the fourth quarter worth approximately $266,000. State Street Corp boosted its stake in shares of Acacia Communications by 181.7% in the fourth quarter. State Street Corp now owns 206,284 shares of the technology company’s stock worth $12,736,000 after buying an additional 133,065 shares during the period. GSA Capital Partners LLP bought a new position in shares of Acacia Communications during the fourth quarter valued at about $209,000. Guggenheim Capital LLC boosted its position in shares of Acacia Communications by 66.3% in the fourth quarter. Guggenheim Capital LLC now owns 13,038 shares of the technology company’s stock valued at $805,000 after buying an additional 5,200 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of Acacia Communications by 1,179.3% in the fourth quarter. Teachers Advisors LLC now owns 104,927 shares of the technology company’s stock valued at $6,479,000 after buying an additional 96,725 shares during the last quarter. 88.35% of the stock is owned by hedge funds and other institutional investors.
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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