Needham & Company LLC Reiterates Buy Rating for Acacia Communications, Inc. (ACIA)

Needham & Company LLC restated their buy rating on shares of Acacia Communications, Inc. (NASDAQ:ACIA) in a research note published on Friday, November 3rd. They currently have a $50.00 price objective on the technology company’s stock.

“Though 3Q17 results beat expectations, Acacia issued cautious 4Q17 guidance reflecting low visibility into the timing of China provincial network build-outs and seasonality in the DCI segment. While the company awaits a resumption in orders, it continues to invest heavily in new products to maintain its industry leadership position. New products including its CFP2 ACO, CFP2 DCO and silicon PIC will all ramp in 2H17 and the CFP2 ACO and DCO products should reach 10% of 2H17 sales. ACIA’s 1.2Tbps AC1200 solution remains on track to ramp in 2H18.”,” the firm’s analyst wrote.

ACIA has been the topic of several other research reports. Northland Securities set a $50.00 target price on Acacia Communications and gave the company a buy rating in a research report on Saturday, July 22nd. Cowen and Company restated an outperform rating and set a $57.00 price objective on shares of Acacia Communications in a report on Monday, July 24th. MKM Partners dropped their price objective on Acacia Communications from $64.00 to $61.00 and set a buy rating for the company in a report on Thursday, October 5th. William Blair restated an outperform rating on shares of Acacia Communications in a report on Monday, July 17th. Finally, Zacks Investment Research cut Acacia Communications from a hold rating to a strong sell rating in a report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $50.50.

Acacia Communications (NASDAQ:ACIA) traded up $0.61 during trading hours on Friday, reaching $39.02. The company’s stock had a trading volume of 469,811 shares, compared to its average volume of 1,070,184. Acacia Communications has a 1-year low of $35.36 and a 1-year high of $79.38. The company has a market cap of $1,540.00 and a P/E ratio of 12.91.

Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.11. The business had revenue of $105.00 million for the quarter, compared to the consensus estimate of $104.35 million. Acacia Communications had a return on equity of 25.29% and a net margin of 27.98%. The company’s revenue was down 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 EPS. equities analysts forecast that Acacia Communications will post 1.15 earnings per share for the current fiscal year.

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In other news, insider Francis J. Murphy sold 833 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $48.00, for a total value of $39,984.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Benny P. Mikkelsen sold 2,901 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $36.40, for a total value of $105,596.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,481 shares of company stock valued at $1,036,684. Corporate insiders own 37.10% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Capital Research Global Investors increased its position in Acacia Communications by 47.6% during the 2nd quarter. Capital Research Global Investors now owns 3,351,605 shares of the technology company’s stock valued at $138,991,000 after buying an additional 1,080,126 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its position in Acacia Communications by 9.2% during the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,405,876 shares of the technology company’s stock valued at $66,217,000 after buying an additional 118,621 shares in the last quarter. Vanguard Group Inc. increased its position in Acacia Communications by 12.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,333,370 shares of the technology company’s stock valued at $55,295,000 after buying an additional 145,531 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its position in Acacia Communications by 847.7% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,052,261 shares of the technology company’s stock valued at $49,561,000 after buying an additional 941,232 shares in the last quarter. Finally, Koch Industries Inc. increased its position in Acacia Communications by 9,918.7% during the 2nd quarter. Koch Industries Inc. now owns 522,678 shares of the technology company’s stock valued at $510,000 after buying an additional 517,461 shares in the last quarter. 84.53% of the stock is currently owned by institutional investors.

About Acacia Communications

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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