Somewhat Positive Press Coverage Somewhat Unlikely to Affect Acacia Communications (ACIA) Stock Price
News headlines about Acacia Communications (NASDAQ:ACIA) have been trending somewhat positive on Thursday, Accern Sentiment reports. Accern ranks the sentiment of media coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Acacia Communications earned a media sentiment score of 0.07 on Accern’s scale. Accern also gave press coverage about the technology company an impact score of 45.1593098343743 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Here are some of the news stories that may have impacted Accern’s rankings:
- Glancy Prongay & Murray LLP Continues Investigation on Behalf of Acacia Communications, Inc. Investors (ACIA) (finance.yahoo.com)
- DEADLINE APPROACHING: Lundin Law PC Announces Securities Class Action Lawsuit against Acacia Communications, Inc. and Encourages Investors with Losses to Contact the Firm (finance.yahoo.com)
- Acacia Communications, Inc. (ACIA) Upgraded to “Hold” at Zacks Investment Research (americanbankingnews.com)
- Acacia Communications, Inc. (ACIA) Insider Francis J. Murphy Sells 438 Shares (americanbankingnews.com)
- Acacia Communications, Inc. (ACIA) VP Bhupendra C. Shah Sells 8,300 Shares (americanbankingnews.com)
Several research firms have commented on ACIA. Northland Securities set a $50.00 price target on shares of Acacia Communications and gave the company a “buy” rating in a research report on Saturday, July 22nd. DA Davidson began coverage on shares of Acacia Communications in a research report on Thursday, June 22nd. They set a “buy” rating and a $61.00 price target for the company. William Blair reissued a “buy” rating on shares of Acacia Communications in a research report on Thursday, June 15th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price target (down from $65.00) on shares of Acacia Communications in a research report on Monday, July 17th. Finally, Cowen and Company reissued a “buy” rating and set a $55.00 price target (down from $57.00) on shares of Acacia Communications in a research report on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $53.63.
Acacia Communications (NASDAQ:ACIA) traded down 2.876% during trading on Thursday, reaching $46.095. 450,381 shares of the company’s stock were exchanged. Acacia Communications has a 52 week low of $44.00 and a 52 week high of $113.30. The stock has a 50-day moving average of $46.39 and a 200-day moving average of $46.39. The stock has a market capitalization of $1.81 billion, a PE ratio of 15.764 and a beta of 3.27.
Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.08. Acacia Communications had a return on equity of 34.46% and a net margin of 29.65%. The company had revenue of $78.90 million during the quarter, compared to analysts’ expectations of $78.17 million. During the same quarter in the previous year, the business earned $0.77 earnings per share. The firm’s revenue for the quarter was down 32.0% on a year-over-year basis. On average, equities research analysts anticipate that Acacia Communications will post $1.88 EPS for the current year.
In other Acacia Communications news, insider Francis J. Murphy sold 833 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $48.00, for a total value of $39,984.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Christian J. Rasmussen sold 3,307 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $44.46, for a total value of $147,029.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,655 shares of company stock valued at $1,558,760. 37.10% of the stock is owned by company insiders.
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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.
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