Acacia Communications (NASDAQ:ACIA) had its price target decreased by stock analysts at Deutsche Bank to $35.00 in a research note issued to investors on Tuesday, The Fly reports. The firm currently has a “buy” rating on the technology company’s stock. Deutsche Bank’s price target would suggest a potential upside of 36.56% from the stock’s previous close.
ACIA has been the topic of a number of other research reports. William Blair reaffirmed an “outperform” rating on shares of Acacia Communications in a report on Wednesday, February 21st. Northland Securities reaffirmed a “buy” rating and set a $50.00 price target on shares of Acacia Communications in a report on Monday, March 19th. MKM Partners reiterated a “neutral” rating and issued a $61.00 price objective (up previously from $53.00) on shares of Acacia Communications in a research note on Friday, February 23rd. UBS started coverage on shares of Acacia Communications in a research note on Wednesday, January 31st. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “hold” rating and issued a $38.00 price objective on shares of Acacia Communications in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. Acacia Communications presently has a consensus rating of “Hold” and a consensus target price of $41.36.
Shares of NASDAQ ACIA opened at $25.63 on Tuesday. The stock has a market cap of $1,603.73, a PE ratio of 21.54, a P/E/G ratio of 6.97 and a beta of 0.88. Acacia Communications has a 52-week low of $24.72 and a 52-week high of $55.21.
In other news, CEO Murugesan Shanmugaraj sold 1,898 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $38.48, for a total value of $73,035.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Bhupendra C. Shah sold 893 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $38.48, for a total transaction of $34,362.64. The disclosure for this sale can be found here. Insiders sold a total of 141,791 shares of company stock worth $5,533,982 in the last quarter. Company insiders own 33.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACIA. Quantitative Systematic Strategies LLC bought a new stake in Acacia Communications during the 4th quarter worth approximately $201,000. Stifel Financial Corp bought a new stake in Acacia Communications during the 3rd quarter worth approximately $218,000. Teacher Retirement System of Texas bought a new stake in Acacia Communications during the 4th quarter worth approximately $219,000. Stone Ridge Asset Management LLC bought a new stake in Acacia Communications during the 4th quarter worth approximately $239,000. Finally, Pitcairn Co. raised its stake in Acacia Communications by 61.8% during the 4th quarter. Pitcairn Co. now owns 7,430 shares of the technology company’s stock worth $269,000 after acquiring an additional 2,839 shares during the period. Institutional investors own 62.10% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This piece of content was posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of international copyright laws. The legal version of this piece of content can be accessed at https://www.chaffeybreeze.com/2018/04/17/acacia-communications-acia-pt-lowered-to-35-00.html.
About Acacia Communications
Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific region. Its products include a series of low-power coherent digital signal processor application-specific integrated circuits and silicon photonic integrated circuits that are integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per second for use in long-haul, metro, and inter-data center markets.
Receive News & Ratings for Acacia Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acacia Communications and related companies with MarketBeat.com's FREE daily email newsletter.