UBS Group cut shares of Acacia Communications (NASDAQ:ACIA) from a buy rating to a neutral rating in a research note issued to investors on Wednesday morning, The Fly reports. They currently have $70.00 target price on the technology company’s stock, up from their previous target price of $64.00.

ACIA has been the topic of a number of other research reports. Craig Hallum cut shares of Acacia Communications from a buy rating to a hold rating in a research note on Tuesday, July 9th. B. Riley reiterated a buy rating on shares of Skechers USA in a research note on Friday, April 26th. Piper Jaffray Companies cut shares of Acacia Communications from an overweight rating to a neutral rating and upped their price target for the stock from $68.00 to $70.00 in a research note on Tuesday, July 9th. Zacks Investment Research upgraded shares of DLH from a sell rating to a hold rating in a research note on Tuesday, July 9th. Finally, Morgan Stanley upped their price target on shares of 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. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $58.07.

Shares of Acacia Communications stock opened at $64.40 on Wednesday. The company has a market cap of $2.61 billion, a PE ratio of 429.33, a price-to-earnings-growth ratio of 3.78 and a beta of 1.71. The stock has a 50-day moving average price of $48.60. Acacia Communications has a 1 year low of $31.42 and a 1 year high of $66.24. The company has a current ratio of 4.93, a quick ratio of 4.65 and a debt-to-equity ratio of 0.03.

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

In other Acacia Communications news, CTO Benny P. Mikkelsen sold 5,892 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $52.38, for a total transaction of $308,622.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Francis J. Murphy sold 514 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $57.80, for a total transaction of $29,709.20. The disclosure for this sale can be found here. Insiders have sold a total of 152,250 shares of company stock worth $7,576,219 in the last 90 days. Company insiders own 9.30% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in Acacia Communications by 2.4% during the 4th quarter. BlackRock Inc. now owns 2,000,266 shares of the technology company’s stock valued at $76,011,000 after acquiring an additional 46,913 shares during the period. Millennium Management LLC increased its position in shares of Acacia Communications by 354.2% during the 4th quarter. Millennium Management LLC now owns 639,280 shares of the technology company’s stock valued at $24,293,000 after purchasing an additional 498,540 shares during the last quarter. AO Asset Management LP purchased a new stake in shares of Acacia Communications during the 1st quarter valued at about $35,265,000. D. E. Shaw & Co. Inc. increased its position in shares of Acacia Communications by 154.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 555,351 shares of the technology company’s stock valued at $21,103,000 after purchasing an additional 337,037 shares during the last quarter. Finally, FMR LLC increased its position in shares of Acacia Communications by 9.1% during the 1st quarter. FMR LLC now owns 513,183 shares of the technology company’s stock valued at $29,431,000 after purchasing an additional 42,623 shares during the last quarter. Institutional investors and hedge funds own 75.65% of the company’s stock.

Acacia Communications Company Profile

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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