Acacia Communications Inc. (ACIA) Given Neutral Rating at Goldman Sachs Group Inc.
A number of other research analysts also recently issued reports on the company. Deutsche Bank AG boosted their price objective on Acacia Communications from $90.00 to $125.00 and gave the company a buy rating in a research note on Friday, September 9th. Needham & Company LLC boosted their price objective on Acacia Communications from $65.00 to $100.00 and gave the company a buy rating in a research note on Friday, August 12th. Zacks Investment Research upgraded Acacia Communications from a hold rating to a strong-buy rating and set a $122.00 price objective for the company in a research note on Tuesday, September 13th. Finally, Bank of America Corp. reiterated a buy rating and set a $130.00 price objective (up from $88.00) on shares of Acacia Communications in a research note on Sunday, September 4th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $99.00.
Acacia Communications (NASDAQ:ACIA) opened at 88.5332 on Wednesday. The stock has a market capitalization of $3.17 billion and a P/E ratio of 59.1009. Acacia Communications has a 1-year low of $27.05 and a 1-year high of $128.73. The firm’s 50 day moving average is $108.06 and its 200 day moving average is $71.40.
Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings results on Thursday, August 11th. The company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.47. The business had revenue of $116.20 million for the quarter, compared to analysts’ expectations of $57.90 million. The firm’s quarterly revenue was up 101.0% on a year-over-year basis. On average, equities research analysts anticipate that Acacia Communications will post $2.76 earnings per share for the current year.
A number of large investors have recently modified their holdings of the stock. Matrix VIII US Management Co. LLC bought a new stake in shares of Acacia Communications during the second quarter worth $482,937,000. Nationwide Fund Advisors bought a new stake in shares of Acacia Communications during the second quarter worth $547,000. JPMorgan Chase & Co. bought a new stake in shares of Acacia Communications during the second quarter worth $1,244,000. Geneva Advisors LLC bought a new stake in shares of Acacia Communications during the second quarter worth $292,000. Finally, Turner Investments L.P. bought a new stake in shares of Acacia Communications during the second quarter worth $300,000. 48.58% of the stock is currently owned by institutional investors.
Acacia Communications Company Profile
Acacia Communications, Inc is engaged in delivering coherent optical interconnect products. The Company offers its products for communications networks, relied upon by cloud infrastructure operators, and content and communication service providers. Its 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 40 to 400 gigabits per second (Gbps) for use in metro and inter-data center markets.
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