Acacia Communications (NASDAQ:ACIA) Stock Rating Lowered by Piper Jaffray Companies

Acacia Communications (NASDAQ:ACIA) was downgraded by Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a research report issued on Tuesday, The Fly reports. They currently have a $70.00 price target on the technology company’s stock, up from their prior price target of $68.00. Piper Jaffray Companies’ target price suggests a potential upside of 7.66% from the company’s previous close.

A number of other equities analysts have also commented on ACIA. Northland Securities reissued a “buy” rating and issued a $35.00 price target on shares of Carbonite in a research report on Monday, July 1st. Bank of America raised shares of Esperion Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, May 6th. Zacks Investment Research raised shares of DLH from a “sell” rating to a “hold” rating in a research report on Tuesday. Craig Hallum lowered shares of Acacia Communications from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, ValuEngine raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $58.07.

NASDAQ ACIA traded down $0.54 during trading on Tuesday, reaching $65.02. The company’s stock had a trading volume of 175,197 shares, compared to its average volume of 923,901. The company has a quick ratio of 4.65, a current ratio of 4.93 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.66 billion, a PE ratio of 433.47, a PEG ratio of 2.82 and a beta of 1.72. The stock has a 50-day simple moving average of $47.90. Acacia Communications has a 1-year low of $31.42 and a 1-year high of $66.24.



Acacia Communications (NASDAQ:ACIA) last posted its earnings results on Thursday, May 2nd. The technology company reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.26. The firm had revenue of $105.20 million during 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%. The company’s revenue was up 44.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. On average, sell-side analysts expect that Acacia Communications will post 0.92 earnings per share for the current year.

In other news, VP Mehrdad Givehchi sold 8,618 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $52.20, for a total value of $449,859.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Murugesan Shanmugaraj sold 9,796 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $52.22, for a total transaction of $511,547.12. The disclosure for this sale can be found here. Insiders have sold 152,250 shares of company stock worth $7,576,219 in the last quarter. Corporate insiders own 9.30% of the company’s stock.

Large investors have recently modified their holdings of the company. Comerica Bank acquired a new stake in shares of Acacia Communications during the 4th quarter worth approximately $779,000. Prudential Financial Inc. acquired a new stake in shares of Acacia Communications during the 4th quarter worth approximately $206,000. California Public Employees Retirement System acquired a new stake in shares of Acacia Communications during the 4th quarter worth approximately $1,624,000. BlackRock Inc. increased its holdings in shares of Acacia Communications by 2.4% during the 4th quarter. BlackRock Inc. now owns 2,000,266 shares of the technology company’s stock worth $76,011,000 after buying an additional 46,913 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Acacia Communications during the 4th quarter worth approximately $661,000. Institutional investors own 75.65% of the company’s stock.

About Acacia Communications

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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