Acacia Communications (ACIA) Research Coverage Started at Piper Jaffray Companies

Piper Jaffray Companies began coverage on shares of Acacia Communications (NASDAQ:ACIA) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $43.00 price target on the technology company’s stock.

Other equities research analysts have also recently issued reports about the company. AltaCorp Capital raised Acacia Communications from a neutral rating to a buy rating in a research report on Friday, November 3rd. DA Davidson lowered their target price on Acacia Communications to $48.00 and set a buy rating on the stock in a report on Friday, November 3rd. B. Riley raised Acacia Communications from a neutral rating to a buy rating and increased their target price for the company from $44.00 to $49.00 in a report on Friday, November 3rd. Needham & Company LLC reissued a buy rating and issued a $50.00 target price on shares of Acacia Communications in a report on Friday, November 3rd. Finally, William Blair assumed coverage on Acacia Communications in a report on Tuesday, October 31st. They issued a buy rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $49.00.

Shares of Acacia Communications (ACIA) opened at $40.48 on Tuesday. Acacia Communications has a 12-month low of $34.20 and a 12-month high of $69.57. The company has a market capitalization of $1,555.40, a price-to-earnings ratio of 13.62, a P/E/G ratio of 2.96 and a beta of 1.60.

In other news, VP Bhupendra C. Shah sold 8,277 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $38.32, for a total value of $317,174.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Mehrdad Givehchi sold 48,722 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $36.80, for a total value of $1,792,969.60. The disclosure for this sale can be found here. Insiders sold 96,758 shares of company stock worth $3,527,259 in the last ninety days. Corporate insiders own 37.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its stake in shares of Acacia Communications by 4.5% in the second quarter. Wells Fargo & Company MN now owns 34,629 shares of the technology company’s stock worth $1,436,000 after buying an additional 1,481 shares during the period. Royal Bank of Canada raised its stake in shares of Acacia Communications by 12.1% in the second quarter. Royal Bank of Canada now owns 13,966 shares of the technology company’s stock worth $579,000 after buying an additional 1,511 shares during the period. Guggenheim Capital LLC raised its stake in shares of Acacia Communications by 6.4% in the fourth quarter. Guggenheim Capital LLC now owns 26,818 shares of the technology company’s stock worth $973,000 after buying an additional 1,622 shares during the period. Pitcairn Co. raised its stake in shares of Acacia Communications by 61.8% in the fourth quarter. Pitcairn Co. now owns 7,430 shares of the technology company’s stock worth $269,000 after buying an additional 2,839 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Acacia Communications by 24.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 18,525 shares of the technology company’s stock worth $671,000 after buying an additional 3,623 shares during the period. 91.48% of the stock is currently owned by hedge funds and other institutional investors.

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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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