ValuEngine cut shares of Acacia Communications, Inc. (NASDAQ:ACIA) from a buy rating to a hold rating in a report released on Tuesday.

Several other equities research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Acacia Communications from a hold rating to a strong-buy rating and set a $62.00 target price on the stock in a report on Wednesday, April 26th. William Blair reaffirmed an outperform rating on shares of Acacia Communications in a report on Friday, March 17th. Morgan Stanley lowered shares of Acacia Communications from an overweight rating to an equal weight rating and lowered their target price for the stock from $70.00 to $45.00 in a report on Thursday, May 11th. Needham & Company LLC reaffirmed a buy rating and issued a $65.00 target price (down previously from $100.00) on shares of Acacia Communications in a report on Wednesday, May 10th. Finally, DA Davidson started coverage on shares of Acacia Communications in a report on Thursday, June 22nd. They issued a buy rating and a $61.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $63.17.

Shares of Acacia Communications (NASDAQ:ACIA) opened at 39.00 on Tuesday. Acacia Communications has a 12 month low of $38.75 and a 12 month high of $128.73. The company has a market capitalization of $1.51 billion, a P/E ratio of 11.48 and a beta of 3.85. The company has a 50-day moving average of $45.72 and a 200 day moving average of $54.39.

Acacia Communications (NASDAQ:ACIA) last posted its earnings results on Tuesday, May 9th. The technology company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.34. Acacia Communications had a net margin of 30.02% and a return on equity of 43.80%. The business had revenue of $114.67 million for the quarter, compared to analyst estimates of $112.46 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The firm’s quarterly revenue was up 35.7% compared to the same quarter last year. Analysts forecast that Acacia Communications will post $1.97 EPS for the current year.

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In related news, Director John Ritchie sold 2,640 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $47.20, for a total value of $124,608.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John F. Gavin sold 4,634 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $48.54, for a total value of $224,934.36. The disclosure for this sale can be found here. Insiders sold 86,169 shares of company stock valued at $4,074,841 over the last three months.

A number of large investors have recently made changes to their positions in ACIA. American International Group Inc. increased its stake in shares of Acacia Communications by 7.1% in the first quarter. American International Group Inc. now owns 3,225 shares of the technology company’s stock valued at $189,000 after buying an additional 215 shares in the last quarter. Dumont & Blake Investment Advisors LLC increased its stake in shares of Acacia Communications by 38.9% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 5,000 shares of the technology company’s stock valued at $293,000 after buying an additional 1,400 shares in the last quarter. Deane Retirement Strategies Inc. increased its stake in shares of Acacia Communications by 6.9% in the second quarter. Deane Retirement Strategies Inc. now owns 28,732 shares of the technology company’s stock valued at $1,192,000 after buying an additional 1,865 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Acacia Communications by 2.1% in the first quarter. Geode Capital Management LLC now owns 107,673 shares of the technology company’s stock valued at $6,311,000 after buying an additional 2,184 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Acacia Communications by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 37,528 shares of the technology company’s stock valued at $2,200,000 after buying an additional 2,340 shares in the last quarter. 88.28% of the stock is owned by institutional investors and hedge funds.

Acacia Communications Company Profile

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.

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Analyst Recommendations for Acacia Communications (NASDAQ:ACIA)

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