Acacia Communications’ (ACIA) Outperform Rating Reaffirmed at William Blair
Several other equities research analysts also recently weighed in on ACIA. Needham & Company LLC lowered their target price on shares of Acacia Communications from $125.00 to $100.00 and set a buy rating for the company in a research note on Friday, February 24th. Cowen and Company restated an outperform rating and issued a $115.00 target price on shares of Acacia Communications in a research note on Wednesday, February 22nd. Morgan Stanley upgraded shares of Acacia Communications from an equal weight rating to an overweight rating and raised their target price for the company from $54.99 to $80.00 in a research note on Thursday, February 2nd. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Acacia Communications from a strong-buy rating to a hold rating in a research note on Monday, January 16th. Finally, Deutsche Bank AG reiterated a buy rating on shares of Acacia Communications in a research note on Wednesday, November 30th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $96.43.
Shares of Acacia Communications (NASDAQ:ACIA) traded down 2.33% during midday trading on Friday, reaching $53.74. 891,637 shares of the company’s stock were exchanged. The firm has a market cap of $2.06 billion and a PE ratio of 16.69. The stock’s 50-day moving average is $56.48 and its 200 day moving average is $75.32. Acacia Communications has a one year low of $27.05 and a one year high of $128.73.
Acacia Communications (NASDAQ:ACIA) last announced its earnings results on Thursday, February 23rd. The company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.04. The company earned $142.40 million during the quarter, compared to the consensus estimate of $139.72 million. Acacia Communications had a net margin of 22.18% and a return on equity of 69.87%. Acacia Communications’s revenue for the quarter was up 107.9% on a year-over-year basis. Analysts anticipate that Acacia Communications will post $3.35 EPS for the current year.
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In other news, insider Francis J. Murphy sold 6,752 shares of Acacia Communications stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $62.15, for a total transaction of $419,636.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christian J. Rasmussen sold 77,526 shares of Acacia Communications stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $61.16, for a total transaction of $4,741,490.16. The disclosure for this sale can be found here. Insiders have sold 173,043 shares of company stock valued at $10,334,242 over the last quarter.
Large investors have recently bought and sold shares of the company. HMS Capital Management LLC bought a new stake in Acacia Communications during the third quarter valued at approximately $678,000. BlackRock Group LTD acquired a new position in shares of Acacia Communications during the third quarter valued at about $3,865,000. Penserra Capital Management LLC acquired a new position in shares of Acacia Communications during the third quarter valued at about $730,000. Macguire Cheswick & Tuttle Investment Counsel LLC acquired a new position in shares of Acacia Communications during the third quarter valued at about $207,000. Finally, First Trust Advisors LP acquired a new position in shares of Acacia Communications during the third quarter valued at about $1,944,000. Institutional investors and hedge funds own 66.39% 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.
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