Acacia Communications (ACIA) Given a $51.00 Price Target by Rosenblatt Securities Analysts

Acacia Communications (NASDAQ:ACIA) received a $51.00 price target from analysts at Rosenblatt Securities in a research report issued to clients and investors on Saturday. The brokerage presently has a “buy” rating on the technology company’s stock. Rosenblatt Securities’ target price would indicate a potential upside of 13.97% from the stock’s previous close.

A number of other brokerages also recently commented on ACIA. B. Riley boosted their price objective on shares of Acacia Communications from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. Zacks Investment Research downgraded shares of Acacia Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. DA Davidson boosted their target price on shares of Acacia Communications from $30.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, August 3rd. Cowen reissued a “buy” rating and issued a $44.00 target price on shares of Acacia Communications in a research report on Friday, August 3rd. Finally, ValuEngine raised shares of Acacia Communications from a “hold” rating to a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. Acacia Communications presently has a consensus rating of “Buy” and an average target price of $41.75.

Shares of ACIA opened at $44.75 on Friday. Acacia Communications has a 52 week low of $24.72 and a 52 week high of $45.31. The company has a market cap of $1.81 billion, a P/E ratio of 37.61 and a beta of 1.68.

Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings data on Thursday, November 1st. The technology company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.19. Acacia Communications had a negative net margin of 7.68% and a positive return on equity of 2.12%. The firm had revenue of $94.80 million for the quarter, compared to the consensus estimate of $89.99 million. During the same period in the previous year, the firm posted $0.46 earnings per share. The firm’s revenue was down 9.7% on a year-over-year basis. As a group, equities analysts anticipate that Acacia Communications will post -0.13 EPS for the current fiscal year.

In other Acacia Communications news, VP Mehrdad Givehchi sold 2,707 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $39.32, for a total value of $106,439.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Murugesan Shanmugaraj sold 2,708 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $39.32, for a total transaction of $106,478.56. The disclosure for this sale can be found here. Insiders sold 6,674 shares of company stock valued at $262,276 over the last three months. Insiders own 33.20% of the company’s stock.

Institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. acquired a new stake in shares of Acacia Communications in the second quarter worth $164,000. Colrain Capital LLC acquired a new stake in shares of Acacia Communications in the third quarter worth $231,000. Janus Henderson Group PLC acquired a new stake in shares of Acacia Communications in the second quarter worth $214,000. BNP Paribas Arbitrage SA lifted its stake in shares of Acacia Communications by 62.2% in the second quarter. BNP Paribas Arbitrage SA now owns 7,186 shares of the technology company’s stock worth $250,000 after buying an additional 2,755 shares during the last quarter. Finally, First Mercantile Trust Co. lifted its stake in shares of Acacia Communications by 47.8% in the second quarter. First Mercantile Trust Co. now owns 7,376 shares of the technology company’s stock worth $257,000 after buying an additional 2,386 shares during the last quarter. Institutional investors and hedge funds own 85.76% of the company’s stock.

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.

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