Acacia Communications, Inc. (ACIA) Receives Average Rating of “Buy” from Brokerages

Shares of Acacia Communications, Inc. (NASDAQ:ACIA) have been assigned an average recommendation of “Buy” from the eighteen brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $45.64.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Acacia Communications from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Thursday, January 3rd. MKM Partners raised their price target on Acacia Communications from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, November 2nd. Loop Capital raised their price target on Acacia Communications to $60.00 and gave the company a “reduce” rating in a report on Thursday, December 6th. ValuEngine raised Acacia Communications from a “hold” rating to a “buy” rating in a report on Friday, November 2nd. Finally, TheStreet raised Acacia Communications from a “d+” rating to a “c-” rating in a report on Monday, December 10th.

Shares of ACIA traded up $0.50 during trading on Wednesday, reaching $42.26. 10,421 shares of the company traded hands, compared to its average volume of 358,282. Acacia Communications has a twelve month low of $24.72 and a twelve month high of $47.26. The stock has a market cap of $1.69 billion, a PE ratio of 35.37, a P/E/G ratio of 6.17 and a beta of 1.65.



In related news, CEO Murugesan Shanmugaraj sold 4,132 shares of Acacia Communications stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $42.34, for a total value of $174,948.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO John F. Gavin sold 769 shares of Acacia Communications stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $43.93, for a total value of $33,782.17. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,349 shares of company stock worth $2,647,478. 33.20% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ACIA. BlueMountain Capital Management LLC bought a new position in shares of Acacia Communications in the 3rd quarter valued at approximately $198,000. Prudential Financial Inc. acquired a new stake in Acacia Communications in the 4th quarter valued at $206,000. SG Americas Securities LLC acquired a new stake in Acacia Communications in the 4th quarter valued at $210,000. GAM Holding AG acquired a new stake in Acacia Communications in the 3rd quarter valued at $211,000. Finally, Colrain Capital LLC acquired a new stake in Acacia Communications in the 3rd quarter valued at $231,000. 74.68% of the stock is currently 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 Americas, Europe, the Middle East, Africa, and the Asia Pacific region. Its products include a series of low-power coherent digital signal processor application-specific integrated circuits and silicon photonic integrated circuits that are integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 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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