Other equities research analysts also recently issued reports about the company. B. Riley restated a buy rating on shares of Skechers USA in a research note on Friday, April 26th. Craig Hallum downgraded Acacia Communications from a buy rating to a hold rating in a research note on Tuesday. Morgan Stanley boosted their price target on Ollie’s Bargain Outlet from $74.00 to $79.00 and gave the company an equal weight rating in a research note on Wednesday, March 27th. Piper Jaffray Companies downgraded Acacia Communications from an overweight rating to a neutral rating and boosted their price objective for the company from $68.00 to $70.00 in a research note on Tuesday. Finally, UBS Group set a $180.00 price objective on Accenture and gave the company a hold rating in a research note on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $58.07.
Acacia Communications stock opened at $65.02 on Tuesday. The company’s 50-day moving average price is $48.24. The company has a market cap of $2.66 billion, a P/E ratio of 433.47, a P/E/G ratio of 3.85 and a beta of 1.71. Acacia Communications has a 52-week low of $31.42 and a 52-week high of $66.24. The company has a current ratio of 4.93, a quick ratio of 4.65 and a debt-to-equity ratio of 0.03.
Acacia Communications (NASDAQ:ACIA) last released its quarterly 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 business had revenue of $105.20 million during the quarter, compared to the consensus estimate of $101.10 million. Acacia Communications had a return on equity of 4.96% and a net margin of 5.63%. The business’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS. On average, equities research analysts forecast that Acacia Communications will post 0.92 EPS for the current fiscal year.
In related news, VP Francis J. Murphy sold 514 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $57.80, for a total value of $29,709.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Eric L. Fisher sold 2,839 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $47.73, for a total value of $135,505.47. The disclosure for this sale can be found here. Over the last three months, insiders sold 152,250 shares of company stock worth $7,576,219. 9.30% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC purchased a new stake in shares of Acacia Communications during the 1st quarter worth approximately $126,000. Millennium Management LLC raised its holdings in shares of Acacia Communications by 354.2% during the 4th quarter. Millennium Management LLC now owns 639,280 shares of the technology company’s stock worth $24,293,000 after acquiring an additional 498,540 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Acacia Communications by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,018 shares of the technology company’s stock worth $343,000 after acquiring an additional 7,043 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Acacia Communications by 1,121.6% during the 4th quarter. Advisor Group Inc. now owns 5,326 shares of the technology company’s stock worth $202,000 after acquiring an additional 4,890 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Acacia Communications by 387.9% during the 4th quarter. Deutsche Bank AG now owns 278,378 shares of the technology company’s stock worth $10,577,000 after acquiring an additional 221,327 shares in the last quarter. 75.65% of the stock is currently owned by 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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