Acacia Communications (NASDAQ:ACIA) Reaches New 52-Week High at $68.65

Acacia Communications, Inc. (NASDAQ:ACIA)’s share price hit a new 52-week high on Thursday . The stock traded as high as $68.65 and last traded at $68.64, with a volume of 25104 shares traded. The stock had previously closed at $68.47.

ACIA has been the topic of several analyst reports. ValuEngine cut shares of Acacia Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research cut shares of Acacia Communications from a “buy” rating to a “hold” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. Acacia Communications presently has an average rating of “Hold” and an average price target of $60.09.

The company has a current ratio of 3.91, a quick ratio of 3.60 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $67.49 and its two-hundred day moving average is $64.69. The company has a market cap of $2.83 billion, a PE ratio of 457.73, a PEG ratio of 1.45 and a beta of 1.70.

Acacia Communications (NASDAQ:ACIA) last released its earnings results on Wednesday, October 30th. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Acacia Communications had a net margin of 6.58% and a return on equity of 8.57%. The company had revenue of $119.59 million for the quarter, compared to analysts’ expectations of $116.15 million. As a group, equities research analysts predict that Acacia Communications, Inc. will post 1.26 EPS for the current fiscal year.

In related news, VP Francis J. Murphy sold 377 shares of Acacia Communications stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $66.81, for a total transaction of $25,187.37. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 1,369 shares of company stock worth $90,756. 9.30% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Carroll Financial Associates Inc. bought a new stake in Acacia Communications in the 4th quarter valued at $39,000. Tower Research Capital LLC TRC bought a new stake in Acacia Communications in the 2nd quarter valued at $31,000. Anderson Fisher LLC bought a new stake in Acacia Communications in the 2nd quarter valued at $86,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in Acacia Communications by 534.7% in the 2nd 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. Finally, Royal Bank of Canada increased its holdings in Acacia Communications by 76.3% in the 2nd 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. Institutional investors own 78.96% of the company’s stock.

Acacia Communications Company Profile (NASDAQ:ACIA)

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.

Read More: What is a Call Option?

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.