Acacia Communications, Inc. (NASDAQ:ACIA) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Acacia Communications, Inc. designs, develops, manufactures and markets communication equipments. The Company offers coherent optical interconnect products for cloud infrastructure operators and content and communication service providers. It operates primarily in the Americas, Europe, the Middle East, Africa and the Asia Pacific region. Acacia Communications, Inc. is headquartered in Maynard, Massachusetts. “

ACIA has been the topic of a number of other research reports. B. Riley reissued a “neutral” rating and issued a $44.00 target price on shares of Acacia Communications in a report on Friday, August 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Acacia Communications in a report on Friday, August 4th. Cowen and Company reiterated an “outperform” rating and set a $57.00 price target on shares of Acacia Communications in a research report on Monday, July 24th. ValuEngine cut Acacia Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, William Blair reissued an “outperform” rating on shares of Acacia Communications in a report on Monday, July 17th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $54.56.

Shares of Acacia Communications (NASDAQ:ACIA) traded down 1.49% during trading on Wednesday, reaching $47.54. The company had a trading volume of 313,139 shares. The stock has a 50 day moving average of $46.33 and a 200 day moving average of $46.33. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 16.26 and a beta of 3.27. Acacia Communications has a 52-week low of $44.00 and a 52-week high of $116.50.

Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. Acacia Communications had a net margin of 5.91% and a return on equity of 3.88%. The business had revenue of $78.90 million during the quarter, compared to the consensus estimate of $78.17 million. During the same quarter in the prior year, the firm earned $0.77 EPS. The company’s revenue for the quarter was down 32.0% compared to the same quarter last year. Equities research analysts forecast that Acacia Communications will post $1.88 EPS for the current year.

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In other news, VP Bhupendra C. Shah sold 8,300 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $44.59, for a total value of $370,097.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Francis J. Murphy sold 8,380 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $48.00, for a total value of $402,240.00. The disclosure for this sale can be found here. Insiders sold 24,917 shares of company stock worth $1,141,097 in the last 90 days. 37.10% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ACIA. Alps Advisors Inc. lifted its holdings in Acacia Communications by 0.3% in the second quarter. Alps Advisors Inc. now owns 9,357 shares of the technology company’s stock worth $388,000 after purchasing an additional 24 shares during the period. American International Group Inc. grew its position in Acacia Communications by 7.1% in the 1st 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. Princeton Capital Management Inc. grew its position in Acacia Communications by 1.3% in the 2nd quarter. Princeton Capital Management Inc. now owns 29,008 shares of the technology company’s stock valued at $1,203,000 after buying an additional 364 shares in the last quarter. Winfield Associates Inc. grew its position in Acacia Communications by 6.0% in the 2nd quarter. Winfield Associates Inc. now owns 7,105 shares of the technology company’s stock valued at $295,000 after buying an additional 400 shares in the last quarter. Finally, Tealwood Asset Management Inc. grew its position in Acacia Communications by 1.8% in the 2nd quarter. Tealwood Asset Management Inc. now owns 33,350 shares of the technology company’s stock valued at $1,383,000 after buying an additional 575 shares in the last quarter. Institutional investors and hedge funds own 81.84% of the company’s stock.

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.

Analyst Recommendations for Acacia Communications (NASDAQ:ACIA)

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