Acacia Communications Inc. (NASDAQ:ACIA)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research report issued on Friday. They presently have a $125.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 85.43% from the stock’s previous close.

The analysts wrote, “Analysts Offer Insights on Consumer Goods Companies: Acacia Communications (NASDAQ: ACIA) and Blue Buffalo (NASDAQ: BUFF) | Analyst Ratings

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Home » Analysts Offer Insights on Consumer Goods Companies: Acacia Communications (NASDAQ: ACIA) and Blue Buffalo (NASDAQ: BUFF)”

A number of other brokerages have also recently issued reports on ACIA. Deutsche Bank AG reaffirmed a “buy” rating and set a $90.00 target price (up previously from $60.00) on shares of Acacia Communications in a research report on Monday, August 15th. Bank of America Corp. reissued a “buy” rating and issued a $130.00 price objective (up from $88.00) on shares of Acacia Communications in a research report on Sunday, September 4th. Zacks Investment Research raised Acacia Communications from a “hold” rating to a “strong-buy” rating and set a $122.00 price objective for the company in a research report on Tuesday, September 13th. Cowen and Company reissued an “outperform” rating and issued a $99.00 price objective (up from $90.00) on shares of Acacia Communications in a research report on Thursday, November 10th. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating on shares of Acacia Communications in a research report on Wednesday, October 12th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Acacia Communications has a consensus rating of “Buy” and a consensus target price of $106.67.

Analyst Recommendations for Acacia Communications (NASDAQ:ACIA)

Acacia Communications (NASDAQ:ACIA) opened at 67.41 on Friday. The stock’s 50 day moving average is $86.32 and its 200 day moving average is $72.54. Acacia Communications has a one year low of $27.05 and a one year high of $128.73. The firm has a market cap of $2.52 billion and a P/E ratio of 31.01.

Acacia Communications (NASDAQ:ACIA) last announced its earnings results on Thursday, November 10th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.15. The firm earned $135.30 million during the quarter, compared to analysts’ expectations of $130.85 million. Acacia Communications had a return on equity of 69.87% and a net margin of 22.18%. The company’s revenue was up 106.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. On average, equities research analysts expect that Acacia Communications will post $3.17 earnings per share for the current year.

In other Acacia Communications news, major shareholder Matrix Partners Viii L. P sold 1,445,307 shares of the stock in a transaction on Thursday, October 13th. The stock was sold at an average price of $96.50, for a total transaction of $139,472,125.50. Following the completion of the transaction, the insider now directly owns 10,646,247 shares in the company, valued at $1,027,362,835.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Murugesan Shanmugaraj sold 108,163 shares of the stock in a transaction on Thursday, October 13th. The stock was sold at an average price of $96.50, for a total value of $10,437,729.50. The disclosure for this sale can be found here.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACIA. Gilder Gagnon Howe & Co. LLC bought a new position in Acacia Communications during the second quarter valued at about $12,294,000. Kornitzer Capital Management Inc. KS bought a new position in Acacia Communications during the second quarter valued at about $6,389,000. JPMorgan Chase & Co. bought a new position in Acacia Communications during the second quarter valued at about $1,244,000. Matrix VIII US Management Co. LLC bought a new position in Acacia Communications during the second quarter valued at about $482,937,000. Finally, California State Teachers Retirement System bought a new position in Acacia Communications during the second quarter valued at about $439,000. Hedge funds and other institutional investors own 46.29% of the company’s stock.

About Acacia Communications

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.

5 Day Chart for NASDAQ:ACIA

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