Acacia Communications, Inc. (NASDAQ:ACIA) has been given a consensus rating of “Hold” by the fifteen research firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $59.56.
Several research analysts have recently commented on ACIA shares. ValuEngine cut shares of Acacia Communications from a “hold” rating to a “sell” rating in a report on Tuesday, February 4th. Zacks Investment Research cut shares of Acacia Communications from a “buy” rating to a “hold” rating in a report on Monday, January 6th. Finally, BidaskClub cut shares of Acacia Communications from a “sell” rating to a “strong sell” rating in a report on Friday, February 7th.
Shares of ACIA traded down $0.08 during mid-day trading on Friday, hitting $68.69. 210,773 shares of the company’s stock were exchanged, compared to its average volume of 258,671. Acacia Communications has a 52 week low of $44.38 and a 52 week high of $69.00. The stock’s 50-day simple moving average is $68.63 and its 200-day simple moving average is $66.26. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 89.20, a price-to-earnings-growth ratio of 1.45 and a beta of 1.70. The company has a quick ratio of 3.60, a current ratio of 4.26 and a debt-to-equity ratio of 0.03.
Acacia Communications (NASDAQ:ACIA) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.08). Acacia Communications had a return on equity of 8.59% and a net margin of 7.07%. The business had revenue of $128.67 million for the quarter, compared to the consensus estimate of $126.71 million. Analysts forecast that Acacia Communications will post 1.14 earnings per share for the current fiscal year.
In related news, VP Francis J. Murphy sold 377 shares of Acacia Communications stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $66.81, for a total value of $25,187.37. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 810 shares of company stock worth $54,483 over the last three months. 9.30% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in ACIA. FMR LLC increased its stake in Acacia Communications by 9.1% in the first quarter. FMR LLC now owns 513,183 shares of the technology company’s stock valued at $29,431,000 after acquiring an additional 42,623 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Acacia Communications by 534.7% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,904 shares of the technology company’s stock valued at $89,000 after acquiring an additional 1,604 shares during the last quarter. Royal Bank of Canada increased its stake in Acacia Communications by 76.3% in the second quarter. Royal Bank of Canada now owns 2,243 shares of the technology company’s stock valued at $106,000 after acquiring an additional 971 shares during the last quarter. Strs Ohio increased its stake in Acacia Communications by 342.4% in the third quarter. Strs Ohio now owns 383,100 shares of the technology company’s stock valued at $25,054,000 after acquiring an additional 296,500 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new position in Acacia Communications in the third quarter valued at approximately $2,335,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.
About Acacia Communications
Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the United States, China, Germany, Thailand, and internationally. The company offers embedded and pluggable module products consisting of optical interconnect modules with transmission speeds ranging from 100 to 1,200 gigabits per second for use in long-haul, metro, and inter-data center markets.
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