Acacia Communications, Inc. (NASDAQ:ACIA) Receives Consensus Rating of “Hold” from Analysts

Shares of Acacia Communications, Inc. (NASDAQ:ACIA) have been assigned an average rating of “Hold” from the seventeen brokerages that are currently covering the stock, reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $60.96.

Several equities analysts recently issued reports on ACIA shares. Zacks Investment Research upgraded Acacia Communications from a “hold” rating to a “strong-buy” rating and set a $76.00 price objective on the stock in a research note on Thursday, November 7th. ValuEngine downgraded shares of Acacia Communications from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd.

In related news, VP Francis J. Murphy sold 559 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $64.89, for a total transaction of $36,273.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 3,506 shares of company stock worth $226,703 over the last quarter. Insiders own 9.30% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC purchased a new stake in shares of Acacia Communications in the second quarter valued at $31,000. Anderson Fisher LLC bought a new position in Acacia Communications in the second quarter worth $86,000. Aperio Group LLC bought a new position in shares of Acacia Communications during the 2nd quarter worth about $88,000. Ladenburg Thalmann Financial Services Inc. raised its position in Acacia Communications by 534.7% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,904 shares of the technology company’s stock worth $89,000 after purchasing an additional 1,604 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Acacia Communications by 76.3% during the 2nd quarter. Royal Bank of Canada now owns 2,243 shares of the technology company’s stock worth $106,000 after buying an additional 971 shares during the period. Hedge funds and other institutional investors own 78.96% of the company’s stock.

Acacia Communications stock traded down $0.05 during midday trading on Tuesday, hitting $66.44. The stock had a trading volume of 3,845 shares, compared to its average volume of 382,909. The business has a fifty day moving average price of $65.99 and a 200 day moving average price of $60.21. Acacia Communications has a 12 month low of $36.00 and a 12 month high of $67.99. The stock has a market cap of $2.74 billion, a P/E ratio of 442.93 and a beta of 1.73. The company has a current ratio of 3.91, a quick ratio of 3.60 and a debt-to-equity ratio of 0.03.

Acacia Communications (NASDAQ:ACIA) last released its earnings results on Wednesday, October 30th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16. The company had revenue of $119.59 million for the quarter, compared to the consensus estimate of $116.15 million. Acacia Communications had a return on equity of 8.57% and a net margin of 6.58%. On average, equities analysts anticipate that Acacia Communications will post 1.26 EPS for the current fiscal year.

About Acacia Communications

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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