Acacia Communications, Inc. (ACIA) PT Lowered to $48.00

Acacia Communications, Inc. (NASDAQ:ACIA) had its price objective cut by stock analysts at DA Davidson to $48.00 in a report issued on Friday, November 3rd, The Fly reports. The firm presently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective would indicate a potential upside of 23.01% from the company’s previous close.

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. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Acacia Communications in a report on Monday, October 23rd. 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. Finally, William Blair reiterated an “outperform” rating on shares of Acacia Communications in a report on Monday, July 17th. 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 earnings results on Thursday, November 2nd. The technology company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.11. The firm 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 for the quarter 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 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 holdings in shares of Acacia Communications by 9,918.7% in the second quarter. Koch Industries Inc. now owns 522,678 shares of the technology company’s stock valued at $510,000 after purchasing an additional 517,461 shares during the period. 84.53% of the stock is currently owned by 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.

The Fly

Analyst Recommendations for Acacia Communications (NASDAQ:ACIA)

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