BidaskClub Lowers Acacia Communications (NASDAQ:ACIA) to Hold

Acacia Communications (NASDAQ:ACIA) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday, BidAskClub reports.

Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Acacia Communications from a “hold” rating to a “strong sell” rating in a report on Monday, February 24th. ValuEngine upgraded shares of Acacia Communications from a “sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $63.79.

Shares of ACIA stock opened at $67.50 on Friday. Acacia Communications has a 1 year low of $44.38 and a 1 year high of $69.00. The firm’s 50 day moving average is $67.21 and its 200-day moving average is $66.67. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 87.66, a PEG ratio of 1.93 and a beta of 1.48. The company has a current ratio of 4.26, a quick ratio of 3.90 and a debt-to-equity ratio of 0.03.

Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.08). Acacia Communications had a net margin of 7.07% and a return on equity of 8.59%. The business had revenue of $128.67 million during the quarter, compared to analyst estimates of $126.71 million. On average, equities research analysts forecast that Acacia Communications will post 1.14 earnings per share for the current fiscal year.

In other Acacia Communications news, CFO John F. Gavin sold 2,592 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $62.45, for a total value of $161,870.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Murugesan Shanmugaraj sold 4,147 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $62.45, for a total transaction of $258,980.15. The disclosure for this sale can be found here. Insiders sold 9,538 shares of company stock worth $597,419 over the last 90 days. 9.30% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the business. Norges Bank bought a new stake in Acacia Communications in the fourth quarter valued at approximately $34,471,000. Geode Capital Management LLC increased its stake in Acacia Communications by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 552,312 shares of the technology company’s stock valued at $37,451,000 after purchasing an additional 9,149 shares in the last quarter. Man Group plc bought a new stake in Acacia Communications in the fourth quarter valued at approximately $3,475,000. Alberta Investment Management Corp bought a new stake in Acacia Communications in the fourth quarter valued at approximately $366,000. Finally, Baird Financial Group Inc. bought a new stake in Acacia Communications in the fourth quarter valued at approximately $1,129,000. 81.30% of the stock is owned by hedge funds and other institutional investors.

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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