B. Riley Upgrades Acacia Communications, Inc. (ACIA) to “Buy”

B. Riley upgraded shares of Acacia Communications, Inc. (NASDAQ:ACIA) from a neutral rating to a buy rating in a research note issued to investors on Friday, November 3rd, MarketBeat reports. B. Riley currently has $49.00 price objective on the technology company’s stock, up from their previous price objective of $44.00.

A number of other equities research analysts also recently weighed in on ACIA. Needham & Company LLC restated a buy rating and set a $50.00 target price on shares of Acacia Communications in a research report on Friday, November 3rd. MKM Partners dropped their target price on Acacia Communications from $64.00 to $61.00 and set a buy rating for the company in a research report on Thursday, October 5th. Zacks Investment Research cut Acacia Communications from a hold rating to a strong sell rating in a research note on Tuesday, August 22nd. Cowen and Company reaffirmed an outperform rating and set a $57.00 price objective on shares of Acacia Communications in a research note on Monday, July 24th. Finally, ValuEngine cut Acacia Communications from a buy rating to a hold rating in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $50.50.

Acacia Communications (NASDAQ:ACIA) opened at $35.60 on Friday. Acacia Communications has a 52-week low of $35.53 and a 52-week high of $79.38. The company has a market capitalization of $1,448.69, a P/E ratio of 12.69, a P/E/G ratio of 2.13 and a beta of 2.85.

Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.11. Acacia Communications had a return on equity of 25.29% and a net margin of 27.98%. The firm had revenue of $105.00 million during the quarter, compared to the consensus estimate of $104.35 million. During the same quarter in the previous year, the company posted $1.01 EPS. The business’s revenue for the quarter was down 22.4% compared to the same quarter last year. equities analysts forecast that Acacia Communications will post 1.15 earnings per share for the current year.

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In other news, VP Bhupendra C. Shah sold 8,300 shares of the company’s stock in a transaction that occurred 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 filing with the SEC, which is available at this hyperlink. Also, insider Francis J. Murphy sold 833 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $48.00, for a total value of $39,984.00. The disclosure for this sale can be found here. Insiders sold 18,469 shares of company stock worth $854,247 in the last 90 days. Corporate insiders own 37.10% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Alps Advisors Inc. boosted its holdings in shares of Acacia Communications by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 9,357 shares of the technology company’s stock valued at $388,000 after purchasing an additional 24 shares in the last quarter. American International Group Inc. boosted its holdings in shares of 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 purchasing an additional 215 shares in the last quarter. Princeton Capital Management Inc. boosted its holdings in shares of 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 purchasing an additional 364 shares in the last quarter. Winfield Associates Inc. boosted its holdings in shares of 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 purchasing an additional 400 shares in the last quarter. Finally, Tealwood Asset Management Inc. boosted its holdings in shares of 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 purchasing an additional 575 shares in the last quarter. 84.32% of the stock is currently 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.

Analyst Recommendations for Acacia Communications (NASDAQ:ACIA)

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