ValuEngine Downgrades Acacia Communications (NASDAQ:ACIA) to Hold

ValuEngine lowered shares of Acacia Communications (NASDAQ:ACIA) from a buy rating to a hold rating in a report published on Wednesday, ValuEngine reports.

A number of other brokerages also recently commented on ACIA. Zacks Investment Research downgraded shares of Acacia Communications from a strong-buy rating to a hold rating in a report on Tuesday, July 9th. Northland Securities reaffirmed a buy rating and issued a $65.00 price target on shares of Acacia Communications in a report on Monday, July 1st. Citigroup downgraded shares of Acacia Communications from a buy rating to a neutral rating in a report on Tuesday, July 16th. Rosenblatt Securities reaffirmed a neutral rating on shares of Acacia Communications in a report on Tuesday, July 16th. Finally, Needham & Company LLC downgraded shares of Acacia Communications from a buy rating to a hold rating and set a $64.91 price objective for the company. in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. Acacia Communications presently has an average rating of Hold and an average price target of $58.07.

Shares of NASDAQ:ACIA traded up $0.39 during trading on Wednesday, reaching $65.35. The company’s stock had a trading volume of 174,518 shares, compared to its average volume of 834,816. The company has a current ratio of 4.18, a quick ratio of 3.82 and a debt-to-equity ratio of 0.03. Acacia Communications has a 12 month low of $32.98 and a 12 month high of $67.49. The firm’s 50 day simple moving average is $64.06 and its two-hundred day simple moving average is $57.75. The stock has a market capitalization of $2.68 billion, a PE ratio of 435.67, a price-to-earnings-growth ratio of 3.75 and a beta of 1.76.

Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.04. Acacia Communications had a net margin of 5.30% and a return on equity of 7.30%. The firm had revenue of $111.18 million during the quarter, compared to the consensus estimate of $108.68 million. Research analysts anticipate that Acacia Communications will post 0.87 EPS for the current fiscal year.

In other Acacia Communications news, VP Francis J. Murphy sold 559 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $64.90, for a total value of $36,279.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Eric L. Fisher sold 2,839 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $47.73, for a total transaction of $135,505.47. The disclosure for this sale can be found here. In the last three months, insiders sold 75,246 shares of company stock valued at $5,241,615. 9.30% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ACIA. Tower Research Capital LLC TRC bought a new stake in shares of Acacia Communications during the second quarter valued at approximately $31,000. Anderson Fisher LLC bought a new stake in shares of Acacia Communications during the second quarter valued at approximately $86,000. Aperio Group LLC bought a new stake in shares of Acacia Communications during the second quarter valued at approximately $88,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Acacia Communications by 534.7% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,904 shares of the technology company’s stock valued at $89,000 after acquiring an additional 1,604 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Acacia Communications by 76.3% during the second quarter. Royal Bank of Canada now owns 2,243 shares of the technology company’s stock valued at $106,000 after acquiring an additional 971 shares in the last quarter. 77.74% of the stock is owned by institutional investors and hedge funds.

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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