Acacia Communications (NASDAQ:ACIA)‘s stock had its “buy” rating reaffirmed by William Blair in a research report issued to clients and investors on Tuesday. William Blair also issued estimates for Acacia Communications’ Q2 2018 earnings at $0.13 EPS and Q3 2018 earnings at $0.28 EPS.

Several other equities analysts also recently weighed in on the company. MKM Partners started coverage on Acacia Communications in a research note on Tuesday, September 19th. They issued a “buy” rating and a $64.00 price objective for the company. AltaCorp Capital raised Acacia Communications from a “neutral” rating to a “buy” rating in a research note on Friday, November 3rd. DA Davidson dropped their price objective on Acacia Communications to $48.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. B. Riley raised Acacia Communications from a “neutral” rating to a “buy” rating and raised their price objective for the company from $44.00 to $49.00 in a research note on Friday, November 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Acacia Communications in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. Acacia Communications has an average rating of “Buy” and an average target price of $50.50.

Shares of Acacia Communications (NASDAQ:ACIA) opened at $40.38 on Tuesday. The company has a market capitalization of $1,573.91, a P/E ratio of 13.78, a PEG ratio of 2.32 and a beta of 2.21. Acacia Communications has a 1-year low of $35.36 and a 1-year high of $74.75.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.35 by $0.11. The business had revenue of $105.00 million during the quarter, compared to analysts’ expectations of $104.35 million. Acacia Communications had a return on equity of 25.29% and a net margin of 27.98%. The company’s quarterly revenue was down 22.4% compared to the same quarter last year. During the same period last year, the firm earned $1.01 EPS. research analysts anticipate that Acacia Communications will post 1.15 EPS for the current year.

In other Acacia Communications news, VP Bhupendra C. Shah sold 8,300 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $47.81, for a total transaction of $396,823.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John F. Gavin sold 880 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $36.40, for a total value of $32,032.00. The disclosure for this sale can be found here. Insiders sold a total of 22,625 shares of company stock valued at $943,778 over the last ninety days. 37.10% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in ACIA. Capital Research Global Investors increased its position in Acacia Communications by 47.6% during the second quarter. Capital Research Global Investors now owns 3,351,605 shares of the technology company’s stock worth $138,991,000 after buying an additional 1,080,126 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its position in Acacia Communications by 847.7% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 1,052,261 shares of the technology company’s stock worth $49,561,000 after buying an additional 941,232 shares in the last quarter. Koch Industries Inc. increased its position in Acacia Communications by 9,918.7% during the second quarter. Koch Industries Inc. now owns 522,678 shares of the technology company’s stock worth $510,000 after buying an additional 517,461 shares in the last quarter. Oak Ridge Investments LLC purchased a new position in Acacia Communications during the third quarter worth $12,992,000. Finally, Eagle Asset Management Inc. purchased a new position in Acacia Communications during the third quarter worth $12,512,000. 91.48% of the stock is owned by institutional investors.

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About Acacia Communications

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.

Analyst Recommendations for Acacia Communications (NASDAQ:ACIA)

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