Acacia Communications, Inc. (ACIA) Upgraded at Cowen and Company

Acacia Communications, Inc. (NASDAQ:ACIA) was upgraded by equities research analysts at Cowen and Company to an “outperform” rating in a research report issued on Friday. The firm currently has a $41.00 target price on the technology company’s stock, down from their previous target price of $55.00.

ACIA has been the topic of several other reports. Northland Securities set a $50.00 price target on shares of Acacia Communications and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Acacia Communications in a research report on Monday, October 23rd. MKM Partners dropped their price target on shares of Acacia Communications from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Thursday, October 5th. William Blair reissued an “outperform” rating on shares of Acacia Communications in a research report on Monday, July 17th. Finally, Zacks Investment Research lowered shares of Acacia Communications from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Acacia Communications currently has a consensus rating of “Buy” and an average price target of $52.13.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.11. Acacia Communications had a net margin of 29.65% and a return on equity of 34.46%. The firm had revenue of $105.00 million for the quarter, compared to analyst estimates of $104.35 million. During the same period in the prior year, the firm posted $1.01 earnings per share. The company’s quarterly revenue was down 22.4% compared to the same quarter last year.

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In other Acacia Communications news, VP Bhupendra C. Shah sold 8,300 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $47.81, for a total transaction of $396,823.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Francis J. Murphy sold 598 shares of the stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $44.32, for a total transaction of $26,503.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,843 shares of company stock worth $1,567,441. 37.10% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the business. American International Group Inc. grew its stake in Acacia Communications by 7.1% during the first quarter. American International Group Inc. now owns 3,225 shares of the technology company’s stock worth $189,000 after buying an additional 215 shares in the last quarter. First Trust Advisors LP acquired a new stake in Acacia Communications during the third quarter worth about $201,000. Carl Domino Inc grew its stake in Acacia Communications by 22.2% during the second quarter. Carl Domino Inc now owns 5,500 shares of the technology company’s stock worth $228,000 after buying an additional 1,000 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in Acacia Communications during the first quarter worth about $234,000. Finally, Thompson Davis & CO. Inc. grew its stake in Acacia Communications by 4,100.0% during the third quarter. Thompson Davis & CO. Inc. now owns 5,250 shares of the technology company’s stock worth $247,000 after buying an additional 5,125 shares in the last quarter. Hedge funds and other institutional investors own 82.12% of the company’s stock.

Acacia Communications Company Profile

Acacia Communications, Inc provides high-speed coherent interconnect products. The Company’s products include a series of low-power coherent digital signal processor application-specific integrated circuits (DSP ASICs), and silicon photonic integrated circuits (silicon PICs), which it has integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per second (Gbps) for use in long-haul, metro and inter-data center markets.

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