William Blair started coverage on shares of Acacia Communications, Inc. (NASDAQ:ACIA) in a report released on Tuesday. The firm issued a buy rating on the technology company’s stock.

“We are lowering our fourth-quarter revenue and EPS estimates to $104 million and $0.37, respectively , from $115 million and $0.42, to handicap potential incremental risks from ADV A (14% customer in the last six months), ZTE (36% customer in the last six months), and seasonal lumpiness around ICP customers, which typically experience a slowdown in infrastructure purchases so as to not disrupt the holiday season.”,” the firm’s analyst commented.

A number of other analysts have also recently weighed in on the stock. Northland Securities set a $50.00 target price on shares of Acacia Communications and gave the stock a buy rating in a report on Saturday, July 22nd. Needham & Company LLC restated a buy rating and issued a $50.00 price target on shares of Acacia Communications in a research report on Monday, October 23rd. Cowen and Company restated an outperform rating and issued a $57.00 price target on shares of Acacia Communications in a research report on Monday, July 24th. MKM Partners cut their target price on shares of Acacia Communications from $64.00 to $61.00 and set a buy rating for the company in a research report on Thursday, October 5th. Finally, Zacks Investment Research downgraded shares of Acacia Communications from a hold rating to a strong sell rating in a research report on Tuesday, August 22nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $50.50.

Shares of Acacia Communications (NASDAQ:ACIA) traded down $6.59 during trading hours on Tuesday, hitting $36.81. 1,042,845 shares of the company’s stock traded hands, compared to its average volume of 455,598. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 13.48 and a beta of 2.85.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.11. The business had revenue of $105.00 million during the quarter, compared to analysts’ expectations of $104.35 million. Acacia Communications had a net margin of 27.98% and a return on equity of 25.94%. The business’s revenue was down 22.4% on a year-over-year basis. During the same period last year, the firm posted $1.01 earnings per share. sell-side analysts predict that Acacia Communications will post 1.41 earnings per share for the current fiscal year.

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In other Acacia Communications news, CEO Murugesan Shanmugaraj sold 2,829 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $44.46, for a total value of $125,777.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Francis J. Murphy sold 8,380 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $48.00, for a total transaction of $402,240.00. The disclosure for this sale can be found here. Insiders have sold a total of 33,843 shares of company stock valued at $1,567,441 over the last three months. 37.10% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of ACIA. Bank of New York Mellon Corp grew its position in shares of Acacia Communications by 6.6% during the 1st quarter. Bank of New York Mellon Corp now owns 37,528 shares of the technology company’s stock worth $2,200,000 after buying an additional 2,340 shares during the period. Parametric Portfolio Associates LLC acquired a new stake in shares of Acacia Communications during the 1st quarter worth approximately $391,000. American International Group Inc. grew its position in shares of Acacia Communications by 7.1% during the 1st quarter. American International Group Inc. now owns 3,225 shares of the technology company’s stock worth $189,000 after buying an additional 215 shares during the period. Alliancebernstein L.P. grew its holdings in Acacia Communications by 246.5% during the first quarter. Alliancebernstein L.P. now owns 14,900 shares of the technology company’s stock valued at $873,000 after purchasing an additional 10,600 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Acacia Communications by 26.5% during the first quarter. Vanguard Group Inc. now owns 1,187,839 shares of the technology company’s stock valued at $69,632,000 after purchasing an additional 248,963 shares during the period. Institutional investors own 82.12% of the company’s stock.

About Acacia Communications

Acacia Communications, Inc provides high-speed coherent interconnect products. The Company’s products include a series of low-power coherent digital signal processor application-specific integrated circuits (DSP ASICs), and silicon photonic integrated circuits (silicon PICs), which it has integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per second (Gbps) for use in long-haul, metro and inter-data center markets.

Analyst Recommendations for Acacia Communications (NASDAQ:ACIA)

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