UBS Group downgraded shares of Acacia Communications (NASDAQ:ACIA) from a buy rating to a neutral rating in a research note published on Wednesday morning, The Fly reports. UBS Group currently has $70.00 price objective on the technology company’s stock, up from their prior price objective of $64.00.

A number of other research analysts also recently commented on ACIA. Piper Jaffray Companies downgraded Acacia Communications from an overweight rating to a neutral rating and increased their target price for the company from $68.00 to $70.00 in a research report on Tuesday, July 9th. ValuEngine upgraded XCel Brands from a sell rating to a hold rating in a research report on Tuesday, July 9th. Morgan Stanley increased their target price on Ollie’s Bargain Outlet from $74.00 to $79.00 and gave the company an equal weight rating in a research report on Wednesday, March 27th. Bank of America upgraded Esperion Therapeutics from an underperform rating to a neutral rating in a research report on Monday, May 6th. Finally, Craig Hallum downgraded Acacia Communications from a buy rating to a hold rating in a research report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $58.07.

Shares of ACIA opened at $64.40 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.65 and a current ratio of 4.93. Acacia Communications has a 1 year low of $31.42 and a 1 year high of $66.24. The firm’s 50 day moving average is $48.60. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 429.33, a P/E/G ratio of 3.78 and a beta of 1.71.

Acacia Communications (NASDAQ:ACIA) last posted its earnings results on Thursday, May 2nd. The technology company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.26. The firm 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 company’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 EPS. As a group, equities research analysts expect that Acacia Communications will post 0.92 EPS for the current year.

In related news, insider Benny P. Mikkelsen sold 8,617 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $52.20, for a total value of $449,807.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Eric L. Fisher sold 2,839 shares of the firm’s stock in a transaction 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 90 days, insiders sold 152,250 shares of company stock valued at $7,576,219. 9.30% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ACIA. Creative Planning increased its stake in Acacia Communications by 1.6% in the first quarter. Creative Planning now owns 13,006 shares of the technology company’s stock worth $746,000 after purchasing an additional 200 shares during the period. Redmond Asset Management LLC increased its stake in Acacia Communications by 0.9% in the first quarter. Redmond Asset Management LLC now owns 22,563 shares of the technology company’s stock worth $1,294,000 after purchasing an additional 205 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in Acacia Communications by 0.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 35,150 shares of the technology company’s stock worth $2,016,000 after purchasing an additional 260 shares during the period. State Board of Administration of Florida Retirement System increased its stake in Acacia Communications by 2.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 10,951 shares of the technology company’s stock worth $628,000 after purchasing an additional 310 shares during the period. Finally, Toth Financial Advisory Corp increased its stake in Acacia Communications by 3.1% in the first quarter. Toth Financial Advisory Corp now owns 14,800 shares of the technology company’s stock worth $849,000 after purchasing an additional 450 shares during the period. Institutional investors own 75.65% of the company’s stock.

About Acacia Communications

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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Analyst Recommendations for Acacia Communications (NASDAQ:ACIA)

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