Zacks Investment Research Lowers Acacia Communications, Inc. (ACIA) to Strong Sell

Zacks Investment Research downgraded shares of Acacia Communications, Inc. (NASDAQ:ACIA) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday morning.

According to Zacks, “Acacia Communications, Inc. designs, develops, manufactures and markets communication equipments. The Company offers coherent optical interconnect products for cloud infrastructure operators and content and communication service providers. It operates primarily in the Americas, Europe, the Middle East, Africa and the Asia Pacific region. Acacia Communications, Inc. is headquartered in Maynard, Massachusetts. “

Several other brokerages have also recently issued reports on ACIA. B. Riley reaffirmed a neutral rating and issued a $44.00 target price on shares of Acacia Communications in a report on Wednesday, August 9th. MKM Partners reduced their target price on Acacia Communications from $64.00 to $61.00 and set a buy rating on the stock in a report on Thursday, October 5th. Cowen and Company reaffirmed a buy rating and issued a $55.00 target price (down from $57.00) on shares of Acacia Communications in a report on Friday, August 4th. Needham & Company LLC reaffirmed a buy rating and issued a $50.00 target price on shares of Acacia Communications in a report on Friday, August 4th. Finally, Northland Securities set a $50.00 target price on Acacia Communications and gave the stock a buy rating in a report on Saturday, July 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. Acacia Communications has a consensus rating of Buy and an average price target of $50.50.

Shares of Acacia Communications (NASDAQ:ACIA) opened at $36.11 on Wednesday. Acacia Communications has a twelve month low of $35.55 and a twelve month high of $79.38. The stock has a market capitalization of $1,415.61, a PE ratio of 12.40, a PEG ratio of 2.08 and a beta of 2.85.

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

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In other Acacia Communications news, CEO Murugesan Shanmugaraj sold 2,829 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $44.46, for a total transaction of $125,777.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Francis J. Murphy sold 598 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $44.32, for a total value of $26,503.36. The disclosure for this sale can be found here. Insiders have sold 25,463 shares of company stock worth $1,165,201 over the last three months. 37.10% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ACIA. Alps Advisors Inc. boosted its position in shares of Acacia Communications by 0.3% during the second quarter. Alps Advisors Inc. now owns 9,357 shares of the technology company’s stock valued at $388,000 after buying an additional 24 shares during the period. American International Group Inc. boosted its position in shares of Acacia Communications by 7.1% during the first quarter. American International Group Inc. now owns 3,225 shares of the technology company’s stock valued at $189,000 after buying an additional 215 shares during the period. Princeton Capital Management Inc. boosted its position in shares of Acacia Communications by 1.3% during the second quarter. Princeton Capital Management Inc. now owns 29,008 shares of the technology company’s stock valued at $1,203,000 after buying an additional 364 shares during the period. Winfield Associates Inc. boosted its position in shares of Acacia Communications by 6.0% during the second quarter. Winfield Associates Inc. now owns 7,105 shares of the technology company’s stock valued at $295,000 after buying an additional 400 shares during the period. Finally, Tealwood Asset Management Inc. boosted its position in shares of Acacia Communications by 1.8% during the second quarter. Tealwood Asset Management Inc. now owns 33,350 shares of the technology company’s stock valued at $1,383,000 after buying an additional 575 shares during the period. 82.22% 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.

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Analyst Recommendations for Acacia Communications (NASDAQ:ACIA)

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