Acacia Communications, Inc. (NASDAQ:ACIA) has received a consensus rating of “Hold” from the eighteen research firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $58.89.

A number of analysts have recently weighed in on ACIA shares. UBS Group raised their price target on shares of Willis Towers Watson from $202.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Jaffray Companies downgraded shares of Acacia Communications from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $68.00 to $70.00 in a research report on Tuesday. B. Riley reissued a “buy” rating on shares of Skechers USA in a research report on Friday, April 26th. Morgan Stanley raised their price objective on Ollie’s Bargain Outlet from $74.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 27th. Finally, Northland Securities restated a “buy” rating and set a $35.00 price objective on shares of Carbonite in a research note on Monday, July 1st.

Shares of ACIA stock traded down $0.62 during mid-day trading on Friday, reaching $64.40. 1,032,058 shares of the company were exchanged, compared to its average volume of 1,755,298. Acacia Communications has a fifty-two week low of $31.42 and a fifty-two week high of $66.24. The company has a quick ratio of 4.65, a current ratio of 4.93 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.64 billion, a P/E ratio of 429.33, a P/E/G ratio of 3.81 and a beta of 1.71. The company has a 50 day moving average price of $48.60.

Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.26. Acacia Communications had a net margin of 5.63% and a return on equity of 4.96%. The business had revenue of $105.20 million during the quarter, compared to the consensus estimate of $101.10 million. During the same quarter last year, the company earned $0.10 earnings per share. The business’s quarterly revenue was up 44.3% compared to the same quarter last year. As a group, research analysts forecast that Acacia Communications will post 0.92 earnings per share for the current fiscal year.

In other Acacia Communications news, CEO Murugesan Shanmugaraj sold 9,796 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $52.22, for a total value of $511,547.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Francis J. Murphy sold 514 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $57.80, for a total value of $29,709.20. The disclosure for this sale can be found here. Insiders have sold 152,250 shares of company stock worth $7,576,219 over the last 90 days. 9.30% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of ACIA. AO Asset Management LP bought a new stake in Acacia Communications in the first quarter valued at $35,265,000. Millennium Management LLC lifted its stake in Acacia Communications by 354.2% in the fourth quarter. Millennium Management LLC now owns 639,280 shares of the technology company’s stock valued at $24,293,000 after buying an additional 498,540 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Acacia Communications in the first quarter valued at $20,694,000. D. E. Shaw & Co. Inc. lifted its stake in Acacia Communications by 154.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 555,351 shares of the technology company’s stock valued at $21,103,000 after buying an additional 337,037 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Acacia Communications in the first quarter valued at $17,151,000. Institutional investors own 75.65% of the company’s stock.

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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Analyst Recommendations for Acacia Communications (NASDAQ:ACIA)

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