ValuEngine upgraded shares of Acacia Communications (NASDAQ:ACIA) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

ACIA has been the subject of several other reports. Zacks Investment Research upgraded shares of DLH from a sell rating to a hold rating in a research note on Tuesday. B. Riley reissued a buy rating on shares of Skechers USA in a research report on Friday, April 26th. Piper Jaffray Companies cut shares of Acacia Communications from an overweight rating to a neutral rating and upped their price target for the company from $68.00 to $70.00 in a report on Tuesday. Morgan Stanley upped their price target on shares of Ollie’s Bargain Outlet from $74.00 to $79.00 and gave the company an equal weight rating in a report on Wednesday, March 27th. Finally, UBS Group set a $180.00 target price on shares of Accenture and gave the stock a hold rating in a report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Acacia Communications presently has a consensus rating of Hold and a consensus price target of $58.07.

Shares of NASDAQ ACIA opened at $64.40 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.93 and a quick ratio of 4.65. Acacia Communications has a 52 week low of $31.42 and a 52 week high of $66.24. The company has a 50-day moving average of $48.60. The firm has a market capitalization of $2.64 billion, a PE ratio of 108.37, a price-to-earnings-growth ratio of 3.81 and a beta of 1.71.

Acacia Communications (NASDAQ:ACIA) last announced its earnings results on Thursday, May 2nd. The technology company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.26. The company had revenue of $105.20 million during the quarter, compared to analysts’ expectations of $101.10 million. Acacia Communications had a net margin of 5.63% and a return on equity of 4.96%. The firm’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. Research analysts forecast that Acacia Communications will post 0.92 earnings per share for the current fiscal year.

In related news, VP Francis J. Murphy sold 514 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $57.80, for a total value of $29,709.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Mehrdad Givehchi sold 8,618 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $52.20, for a total value of $449,859.60. The disclosure for this sale can be found here. Insiders sold 152,250 shares of company stock worth $7,576,219 in the last 90 days. 9.30% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. raised its stake in shares of Acacia Communications by 29.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 506,360 shares of the technology company’s stock worth $29,040,000 after purchasing an additional 113,995 shares in the last quarter. FMR LLC increased its holdings in shares of Acacia Communications by 9.1% during the 1st quarter. FMR LLC now owns 513,183 shares of the technology company’s stock worth $29,431,000 after acquiring an additional 42,623 shares during the last quarter. Hall Kathryn A. acquired a new position in Acacia Communications in the 1st quarter valued at $603,000. Marshall Wace North America L.P. acquired a new position in Acacia Communications in the 1st quarter valued at $2,193,000. Finally, Marshall Wace LLP acquired a new position in Acacia Communications in the 1st quarter valued at $1,730,000. Institutional investors own 75.65% of the company’s stock.

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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Analyst Recommendations for Acacia Communications (NASDAQ:ACIA)

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