UBS Group lowered shares of Acacia Communications (NASDAQ:ACIA) from a buy rating to a neutral rating in a research note released on Wednesday morning, The Fly reports. The firm currently has $70.00 target price on the technology company’s stock, up from their previous target price of $64.00.
ACIA has been the subject of several other research reports. B. Riley reaffirmed a buy rating on shares of Skechers USA in a research note on Friday, April 26th. Zacks Investment Research raised shares of DLH from a sell rating to a hold rating in a research note on Tuesday. Bank of America raised shares of Esperion Therapeutics from an underperform rating to a neutral rating in a research note on Monday, May 6th. Craig Hallum cut shares of Acacia Communications from a buy rating to a hold rating in a research note on Tuesday. Finally, Needham & Company LLC dropped their price objective on shares of to $10.00 and set a buy rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $58.07.
ACIA opened at $64.40 on Wednesday. Acacia Communications has a twelve month low of $31.42 and a twelve month high of $66.24. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.65 and a current ratio of 4.93. The stock’s 50-day moving average is $48.60. The firm has a market cap of $2.64 billion, a P/E ratio of 108.37, a PEG ratio of 3.81 and a beta of 1.71.
Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.26. Acacia Communications had a net margin of 5.63% and a return on equity of 4.96%. The company had revenue of $105.20 million during the quarter, compared to analysts’ expectations of $101.10 million. During the same quarter in the prior year, the company earned $0.10 EPS. Acacia Communications’s revenue was up 44.3% compared to the same quarter last year. As a group, sell-side analysts expect that Acacia Communications will post 0.92 earnings per share for the current year.
In other news, VP Francis J. Murphy sold 514 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Murugesan Shanmugaraj sold 9,796 shares of the stock in a transaction that occurred 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. In the last three months, insiders sold 152,250 shares of company stock valued at $7,576,219. Corporate insiders own 9.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Acacia Communications by 2.4% in the 4th quarter. BlackRock Inc. now owns 2,000,266 shares of the technology company’s stock valued at $76,011,000 after buying an additional 46,913 shares during the period. Millennium Management LLC grew its stake in shares of Acacia Communications by 354.2% in the 4th quarter. Millennium Management LLC now owns 639,280 shares of the technology company’s stock valued at $24,293,000 after buying an additional 498,540 shares during the period. AO Asset Management LP purchased a new stake in shares of Acacia Communications in the 1st quarter valued at approximately $35,265,000. D. E. Shaw & Co. Inc. grew its stake in shares of Acacia Communications by 154.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 555,351 shares of the technology company’s stock valued at $21,103,000 after buying an additional 337,037 shares during the period. Finally, FMR LLC grew its stake in shares of Acacia Communications by 9.1% in the 1st quarter. FMR LLC now owns 513,183 shares of the technology company’s stock valued at $29,431,000 after buying an additional 42,623 shares during the period. 75.65% 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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