Acacia Communications Inc. (NASDAQ:ACIA) has earned an average rating of “Buy” from the seven brokerages that are covering the firm. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $113.00.

ACIA has been the subject of several research reports. Deutsche Bank AG restated a “buy” rating and set a $90.00 price objective (up from $60.00) on shares of Acacia Communications in a research note on Monday, August 15th. Bank of America Corp. restated 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. Zacks Investment Research upgraded shares of 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. Cowen and Company restated an “outperform” rating and set a $99.00 price objective (up from $90.00) on shares of Acacia Communications in a research note on Thursday, November 10th. Finally, Needham & Company LLC lifted their price objective on shares of Acacia Communications from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, October 11th.

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In related news, major shareholder Matrix Partners Viii L. P sold 1,445,307 shares of the business’s stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $96.50, for a total value of $139,472,125.50. Following the completion of the sale, the insider now owns 10,646,247 shares of the company’s stock, valued at approximately $1,027,362,835.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Christian J. Rasmussen sold 98,846 shares of the business’s stock in a transaction on Thursday, October 13th. The stock was sold at an average price of $96.50, for a total transaction of $9,538,639.00. The disclosure for this sale can be found here.

A number of large investors have recently modified their holdings of ACIA. Kornitzer Capital Management Inc. KS bought a new stake in shares of Acacia Communications during the second quarter valued at approximately $6,389,000. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Acacia Communications during the second quarter valued at approximately $12,294,000. Bank of New York Mellon Corp bought a new stake in shares of Acacia Communications during the second quarter valued at approximately $615,000. California State Teachers Retirement System bought a new stake in shares of Acacia Communications during the second quarter valued at approximately $439,000. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of Acacia Communications during the second quarter valued at approximately $999,000. 53.33% of the stock is owned by institutional investors.

Acacia Communications (NASDAQ:ACIA) opened at 78.02 on Wednesday. Acacia Communications has a 1-year low of $27.05 and a 1-year high of $128.73. The company’s 50-day moving average is $79.00 and its 200 day moving average is $72.71. The stock has a market capitalization of $2.92 billion and a PE ratio of 35.89.

Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings data on Thursday, November 10th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.86 by $0.15. Acacia Communications had a net margin of 22.18% and a return on equity of 69.87%. The business earned $135.30 million during the quarter, compared to analysts’ expectations of $130.85 million. During the same period in the previous year, the business posted $0.29 EPS. The business’s quarterly revenue was up 106.8% compared to the same quarter last year. Equities analysts predict that Acacia Communications will post $3.16 earnings per share for the current year.

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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