Acacia Communications (ACIA) Receiving Somewhat Positive Media Coverage, Study Finds
News coverage about Acacia Communications (NASDAQ:ACIA) has trended somewhat positive on Monday, Accern Sentiment reports. The research firm identifies negative and positive news coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Acacia Communications earned a media sentiment score of 0.08 on Accern’s scale. Accern also gave media headlines about the technology company an impact score of 45.7556030870339 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
These are some of the media headlines that may have effected Accern Sentiment’s analysis:
- Optical Interconnect Global Market by Interconnect Level, Analysis and Forecasts to 2022 (emailwire.com)
- Acacia Communications, Inc. (ACIA) Given Consensus Recommendation of “Buy” by Analysts (americanbankingnews.com)
- Head to Head Survey: Acacia Communications (ACIA) versus Its Rivals (americanbankingnews.com)
- Hamilton Lane Advisors Llc Buys Snap Inc, Diamondback Energy Inc, Alphabet Inc, Sells Twilio … (nasdaq.com)
A number of brokerages have weighed in on ACIA. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Acacia Communications in a research report on Friday, August 4th. B. Riley reiterated a “neutral” rating and set a $44.00 price target on shares of Acacia Communications in a research report on Friday, August 4th. Cowen and Company reiterated a “buy” rating and set a $55.00 price target (down from $57.00) on shares of Acacia Communications in a research report on Friday, August 4th. ValuEngine downgraded shares of Acacia Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Zacks Investment Research upgraded shares of Acacia Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 4th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $53.25.
Shares of Acacia Communications (NASDAQ ACIA) traded down 0.85% on Monday, hitting $44.55. The company had a trading volume of 184,794 shares. The company has a 50-day moving average of $46.22 and a 200 day moving average of $46.22. The stock has a market cap of $1.75 billion, a PE ratio of 15.24 and a beta of 3.27. Acacia Communications has a 12 month low of $38.50 and a 12 month high of $91.50.
Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.08. The business had revenue of $78.90 million during the quarter, compared to the consensus estimate of $78.17 million. Acacia Communications had a net margin of 29.65% and a return on equity of 34.46%. The firm’s quarterly revenue was down 32.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. Analysts anticipate that Acacia Communications will post $1.86 EPS for the current fiscal year.
In other Acacia Communications news, VP Bhupendra C. Shah sold 8,300 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $47.81, for a total value of $396,823.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Francis J. Murphy sold 8,380 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $48.00, for a total transaction of $402,240.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,245 shares of company stock valued at $1,540,937. 37.10% of the stock is owned by insiders.
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Acacia Communications Company Profile
Acacia Communications, Inc provides high-speed coherent interconnect products. The Company’s 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 100 to 400 gigabits per second (Gbps) for use in long-haul, metro and inter-data center markets.
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