Deutsche Bank Trims Acacia Communications (ACIA) Target Price to $35.00

Acacia Communications (NASDAQ:ACIA) had its price objective trimmed by Deutsche Bank to $35.00 in a report published on Tuesday. The brokerage currently has a buy rating on the technology company’s stock.

A number of other research analysts have also commented on ACIA. Bank of America lowered Acacia Communications from a buy rating to a neutral rating in a research report on Tuesday. Piper Jaffray lowered Acacia Communications from an overweight rating to a neutral rating and set a $26.00 price target for the company. in a research report on Monday. Loop Capital lowered their price target on Acacia Communications to $32.00 and set a buy rating for the company in a research report on Monday. UBS set a $48.00 price target on Acacia Communications and gave the company a buy rating in a research report on Friday, February 23rd. Finally, Northland Securities set a $42.00 price target on Acacia Communications and gave the company a buy rating in a research report on Monday, January 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $36.73.

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ACIA opened at $26.48 on Tuesday. The company has a market cap of $1,024.42, a price-to-earnings ratio of 22.25, a price-to-earnings-growth ratio of 6.34 and a beta of 0.88. Acacia Communications has a one year low of $24.72 and a one year high of $54.37.

Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $86.60 million during the quarter, compared to analyst estimates of $88.41 million. Acacia Communications had a return on equity of 12.40% and a net margin of 10.00%. Acacia Communications’s quarterly revenue was down 39.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 EPS. equities research analysts forecast that Acacia Communications will post 0.28 earnings per share for the current fiscal year.

In other news, VP Christian J. Rasmussen sold 32,000 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $35.05, for a total value of $1,121,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Benny P. Mikkelsen sold 1,900 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $38.48, for a total value of $73,112.00. The disclosure for this sale can be found here. Insiders sold a total of 141,791 shares of company stock valued at $5,533,982 in the last three months. Corporate insiders own 33.20% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Stifel Financial Corp purchased a new stake in shares of Acacia Communications in the 3rd quarter worth approximately $218,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Acacia Communications in the 4th quarter worth approximately $201,000. Teacher Retirement System of Texas purchased a new stake in shares of Acacia Communications in the 4th quarter worth approximately $219,000. Stone Ridge Asset Management LLC purchased a new stake in shares of Acacia Communications in the 4th quarter worth approximately $239,000. Finally, Pitcairn Co. grew its stake in shares of Acacia Communications by 61.8% in the 4th quarter. Pitcairn Co. now owns 7,430 shares of the technology company’s stock worth $269,000 after buying an additional 2,839 shares during the last quarter. 62.10% of the stock is owned by hedge funds and other institutional investors.

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About Acacia Communications

Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific region. Its products include a series of low-power coherent digital signal processor application-specific integrated circuits and silicon photonic integrated circuits that are integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per second for use in long-haul, metro, and inter-data center markets.

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