Acacia Communications Inc. (NASDAQ:ACIA)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Saturday. They currently have a $125.00 price target on the stock. Needham & Company LLC’s price target would suggest a potential upside of 60.22% from the stock’s previous close.

Several other brokerages have also commented on ACIA. Deutsche Bank AG reaffirmed a “buy” rating and set a $90.00 price target (up previously from $60.00) on shares of Acacia Communications in a research report on Monday, August 15th. Bank of America Corp. reaffirmed a “buy” rating and set a $130.00 price target (up previously from $88.00) on shares of Acacia Communications in a research report on Sunday, September 4th. Zacks Investment Research raised shares of Acacia Communications from a “hold” rating to a “strong-buy” rating and set a $122.00 price target for the company in a research report on Tuesday, September 13th. Cowen and Company reaffirmed an “outperform” rating and set a $99.00 price target (up previously from $90.00) on shares of Acacia Communications in a research report on Thursday, November 10th. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating on shares of Acacia Communications in a research report on Wednesday, October 12th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Acacia Communications has a consensus rating of “Buy” and an average target price of $100.67.

Analyst Recommendations for Acacia Communications (NASDAQ:ACIA)

Shares of Acacia Communications (NASDAQ:ACIA) traded up 4.15% during midday trading on Friday, reaching $78.02. 892,039 shares of the company traded hands. The firm has a market capitalization of $2.92 billion and a P/E ratio of 35.89. Acacia Communications has a 12 month low of $27.05 and a 12 month high of $128.73. The company has a 50 day moving average of $79.00 and a 200 day moving average of $72.71.

Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings results on Thursday, November 10th. The company reported $1.01 EPS for the quarter, topping 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 firm earned $135.30 million during the quarter, compared to analyst estimates of $130.85 million. During the same quarter in the prior year, the business posted $0.29 earnings per share. Acacia Communications’s revenue for the quarter was up 106.8% compared to the same quarter last year. On average, equities research analysts predict that Acacia Communications will post $3.16 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This story was posted by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are accessing this story on another site, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this story can be read at https://www.thecerbatgem.com/2016/11/27/acacia-communications-inc-acia-rating-reiterated-by-needham-company-llc-2.html.

In other news, VP Christian J. Rasmussen sold 98,846 shares of the company’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 $9,538,639.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Matrix Partners Viii L. P sold 1,445,307 shares of the company’s stock in a transaction on Thursday, October 13th. The shares were 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 owns 10,646,247 shares of the company’s stock, valued at $1,027,362,835.50. The disclosure for this sale can be found here.

Several hedge funds and other institutional investors have recently made changes to their positions in ACIA. American International Group Inc. purchased a new position in shares of Acacia Communications during the second quarter valued at $120,000. SG Americas Securities LLC purchased a new position in shares of Acacia Communications during the third quarter valued at $191,000. Rhumbline Advisers purchased a new position in shares of Acacia Communications during the second quarter valued at $201,000. Macguire Cheswick & Tuttle Investment Counsel LLC purchased a new position in shares of Acacia Communications during the third quarter valued at $207,000. Finally, Winfield Associates Inc. increased its position in shares of Acacia Communications by 115.0% in the third quarter. Winfield Associates Inc. now owns 2,150 shares of the company’s stock valued at $222,000 after buying an additional 1,150 shares during the period. Institutional investors and hedge funds own 53.33% of the company’s stock.

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.

5 Day Chart for NASDAQ:ACIA

Receive News & Stock Ratings for Acacia Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acacia Communications Inc. and related stocks with our FREE daily email newsletter.