Acacia Communications Inc. (ACIA) Receives Buy Rating from Deutsche Bank AG
ACIA has been the topic of several other reports. Bank of America Corp. reiterated a buy rating and set a $130.00 target price (up from $88.00) on shares of Acacia Communications in a report on Sunday, September 4th. Needham & Company LLC increased their target price on shares of Acacia Communications from $65.00 to $100.00 and gave the stock a buy rating in a report on Friday, August 12th. Goldman Sachs Group Inc. reiterated a neutral rating on shares of Acacia Communications in a report on Wednesday, October 12th. Cowen and Company reiterated an outperform rating and set a $99.00 target price (up from $90.00) on shares of Acacia Communications in a report on Thursday, November 10th. Finally, William Blair reiterated an outperform rating on shares of Acacia Communications in a report on Tuesday, November 8th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Acacia Communications presently has a consensus rating of Buy and a consensus target price of $100.67.
Shares of Acacia Communications (NASDAQ:ACIA) opened at 69.26 on Wednesday. The company has a market capitalization of $2.59 billion and a price-to-earnings ratio of 31.86. Acacia Communications has a 52 week low of $27.05 and a 52 week high of $128.73. The stock has a 50 day moving average of $78.23 and a 200-day moving average of $73.35.
Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings results on Thursday, November 10th. The company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.15. The firm had revenue of $135.30 million for the quarter, compared to analysts’ expectations of $130.85 million. Acacia Communications had a net margin of 22.18% and a return on equity of 69.87%. The business’s revenue for the quarter was up 106.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 earnings per share. On average, analysts anticipate that Acacia Communications will post $3.16 EPS for the current year.
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In related news, Director Peter Y. Chung sold 346,202 shares of the stock in a transaction that occurred on Thursday, October 13th. The shares were sold at an average price of $96.50, for a total value of $33,408,493.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Matrix Partners Viii L. P sold 1,445,307 shares of the stock in a transaction that occurred on Thursday, October 13th. The shares were sold at an average price of $96.50, for a total transaction of $139,472,125.50. Following the completion of the transaction, the insider now directly owns 10,646,247 shares of the company’s stock, valued at $1,027,362,835.50. The disclosure for this sale can be found here.
Several institutional investors have recently made changes to their positions in the stock. American International Group Inc. bought a new position in shares of Acacia Communications during the second quarter valued at approximately $120,000. SG Americas Securities LLC bought a new position in shares of Acacia Communications during the third quarter valued at approximately $191,000. Rhumbline Advisers bought a new position in shares of Acacia Communications during the second quarter valued at approximately $201,000. Macguire Cheswick & Tuttle Investment Counsel LLC bought a new position in shares of Acacia Communications during the third quarter valued at approximately $207,000. Finally, Winfield Associates Inc. raised its position in shares of Acacia Communications by 115.0% in the third quarter. Winfield Associates Inc. now owns 2,150 shares of the company’s stock valued at $222,000 after buying an additional 1,150 shares during the last quarter. 51.42% of the stock is owned by hedge funds and other institutional investors.
About Acacia Communications
Acacia Communications, Inc is a provider of coherent interconnect products for communications networks relied upon by cloud infrastructure operators and content and communications service providers. The Company’s product family includes AC100-MSA, AC100-CFP, CFP2-ACO and AC400 Flex. Its AC100-MSA product family includes AC100-G, AC100-S and AC100-C.
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