Acacia Communications (NASDAQ:ACIA) Upgraded to “Strong-Buy” at ValuEngine

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

A number of other research firms also recently issued reports on ACIA. Morgan Stanley increased their price target on Ollie’s Bargain Outlet from $74.00 to $79.00 and gave the stock an equal weight rating in a research report on Wednesday, March 27th. Zacks Investment Research raised DLH from a sell rating to a hold rating in a research report on Tuesday. Bank of America raised Esperion Therapeutics from an underperform rating to a neutral rating in a research report on Monday, May 6th. B. Riley reissued a buy rating on shares of Skechers USA in a research report on Friday, April 26th. Finally, Northland Securities reissued a buy rating and set a $35.00 price target on shares of Carbonite in a research report on Monday, July 1st. Two investment 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. The company presently has a consensus rating of Hold and an average target price of $58.07.

Shares of Acacia Communications stock opened at $65.02 on Tuesday. The firm has a fifty day simple moving average of $48.24. The company has a market cap of $2.66 billion, a P/E ratio of 433.47, a PEG ratio of 3.85 and a beta of 1.71. The company has a quick ratio of 4.65, a current ratio of 4.93 and a debt-to-equity ratio of 0.03. Acacia Communications has a 52 week low of $31.42 and a 52 week high of $66.24.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly 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. Acacia Communications had a return on equity of 4.96% and a net margin of 5.63%. The business had revenue of $105.20 million for the quarter, compared to the consensus estimate of $101.10 million. During the same quarter in the prior year, the company earned $0.10 EPS. The business’s revenue was up 44.3% compared to the same quarter last year. On average, equities analysts anticipate that Acacia Communications will post 0.92 EPS for the current year.

In related news, CEO Murugesan Shanmugaraj sold 43,000 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $50.12, for a total transaction of $2,155,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Francis J. Murphy sold 514 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $57.80, for a total value of $29,709.20. The disclosure for this sale can be found here. Insiders have sold a total of 152,250 shares of company stock valued at $7,576,219 over the last 90 days. 9.30% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Acacia Communications by 29.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 506,360 shares of the technology company’s stock worth $29,040,000 after acquiring an additional 113,995 shares during the last quarter. FMR LLC boosted its stake in shares of Acacia Communications by 9.1% in the first 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 stake in shares of Acacia Communications in the first quarter worth approximately $603,000. Marshall Wace North America L.P. acquired a new stake in shares of Acacia Communications in the first quarter worth approximately $2,193,000. Finally, Marshall Wace LLP acquired a new stake in shares of Acacia Communications in the first quarter worth approximately $1,730,000. Hedge funds and other 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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