Acacia Communications, Inc. (NASDAQ:ACIA) CEO Murugesan Shanmugaraj sold 6,975 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $38.23, for a total value of $266,654.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Acacia Communications, Inc. (ACIA) opened at $39.73 on Friday. Acacia Communications, Inc. has a 52-week low of $35.36 and a 52-week high of $69.57. The stock has a market capitalization of $1,560.00 and a P/E ratio of 13.42.
Acacia Communications (NASDAQ:ACIA) last announced its earnings results on Thursday, November 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. Acacia Communications had a return on equity of 25.29% and a net margin of 27.98%. The firm had revenue of $105.00 million for the quarter, compared to analyst estimates of $104.35 million. During the same quarter last year, the firm posted $1.01 EPS. The business’s revenue was down 22.4% on a year-over-year basis. analysts expect that Acacia Communications, Inc. will post 1.15 earnings per share for the current year.
ACIA has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of Acacia Communications in a research report on Friday, November 3rd. Zacks Investment Research upgraded Acacia Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 4th. DA Davidson decreased their target price on Acacia Communications to $48.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Cowen upgraded Acacia Communications to an “outperform” rating and decreased their target price for the company from $55.00 to $41.00 in a research report on Friday, November 3rd. Finally, MKM Partners initiated coverage on Acacia Communications in a research report on Tuesday, September 19th. They set a “buy” rating and a $64.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $50.50.
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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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