William Blair Reiterates “Outperform” Rating for Acacia Communications, Inc. (ACIA)

Acacia Communications, Inc. (NASDAQ:ACIA)‘s stock had its “outperform” rating restated by stock analysts at William Blair in a research report issued to clients and investors on Monday, May 8th.

Several other research firms have also recently commented on ACIA. Cowen and Company reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Acacia Communications in a research report on Wednesday, February 22nd. Needham & Company LLC decreased their price target 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. Zacks Investment Research lowered shares of Acacia Communications from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 16th. B. Riley assumed coverage on shares of Acacia Communications in a research note on Tuesday, April 4th. They issued a “neutral” rating and a $60.00 price target for the company. Finally, Morgan Stanley upgraded shares of Acacia Communications from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $54.99 to $80.00 in a research note on Thursday, February 2nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $64.25.

Analyst Recommendations for Acacia Communications (NASDAQ:ACIA)

Acacia Communications (NASDAQ:ACIA) traded down 1.78% on Monday, reaching $44.18. The company’s stock had a trading volume of 485,837 shares. The firm has a market cap of $1.71 billion and a P/E ratio of 13.00. The firm’s 50 day moving average is $50.65 and its 200-day moving average is $59.50. Acacia Communications has a 12 month low of $29.47 and a 12 month high of $128.73.

Acacia Communications (NASDAQ:ACIA) last posted its earnings results on Tuesday, May 9th. The technology company reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.34. Acacia Communications had a net margin of 22.18% and a return on equity of 69.87%. The firm had revenue of $114.67 million during the quarter, compared to analysts’ expectations of $112.46 million. During the same period last year, the company posted $0.44 EPS. The company’s quarterly revenue was up 35.7% compared to the same quarter last year. On average, equities research analysts anticipate that Acacia Communications will post $2.19 EPS for the current year.

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In related news, CTO Benny P. Mikkelsen sold 25,842 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $59.16, for a total value of $1,528,812.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Murugesan Shanmugaraj sold 8,983 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $48.52, for a total transaction of $435,855.16. The disclosure for this sale can be found here. Insiders sold 159,452 shares of company stock valued at $8,230,886 over the last quarter.

A number of institutional investors have recently modified their holdings of the stock. Fortaleza Asset Management Inc. purchased a new position in shares of Acacia Communications during the fourth quarter valued at $116,000. FNY Partners Fund LP bought a new stake in Acacia Communications during the fourth quarter valued at about $124,000. American International Group Inc. boosted its stake in Acacia Communications by 7.1% in 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 last quarter. Boothbay Fund Management LLC bought a new stake in Acacia Communications during the fourth quarter valued at about $203,000. Finally, First American Bank bought a new stake in Acacia Communications during the first quarter valued at about $203,000. 66.39% of the stock is currently owned by institutional investors and hedge funds.

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.

12 Month Chart for NASDAQ:ACIA

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