Acacia Communications (NASDAQ:ACIA) Lowered to Hold at Zacks Investment Research


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Acacia Communications (NASDAQ:ACIA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Acacia Communications, Inc. designs, develops, manufactures and markets communication equipments. The Company offers coherent optical interconnect products for cloud infrastructure operators and content and communication service providers. It operates primarily in the Americas, Europe, the Middle East, Africa and the Asia Pacific region. Acacia Communications, Inc. is headquartered in Maynard, Massachusetts. “

Several other research analysts have also weighed in on the company. Northland Securities boosted their price target on Acacia Communications from $65.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $110.00 price target on shares of Acacia Communications in a research report on Tuesday. BidaskClub raised Acacia Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, December 30th. Needham & Company LLC reiterated a “hold” rating on shares of Acacia Communications in a research note on Monday. Finally, Craig Hallum upgraded Acacia Communications from a “hold” rating to a “buy” rating in a research note on Friday, January 8th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $92.33.

Shares of Acacia Communications stock opened at $86.45 on Tuesday. The firm has a market cap of $3.64 billion, a PE ratio of 54.37 and a beta of 0.78. Acacia Communications has a 52-week low of $60.62 and a 52-week high of $86.98. The business’s 50 day simple moving average is $72.32 and its 200 day simple moving average is $68.99.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings results on Saturday, November 14th. The technology company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.20. The firm had revenue of $158.46 million for the quarter, compared to analyst estimates of $143.28 million. Acacia Communications had a return on equity of 11.85% and a net margin of 12.56%. As a group, analysts anticipate that Acacia Communications will post 2.01 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of ACIA. Jeppson Wealth Management LLC bought a new position in shares of Acacia Communications during the 3rd quarter worth approximately $34,000. Nisa Investment Advisors LLC boosted its stake in Acacia Communications by 257.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,180 shares of the technology company’s stock valued at $80,000 after purchasing an additional 850 shares during the period. Prudential Financial Inc. boosted its stake in Acacia Communications by 5.2% in the 2nd quarter. Prudential Financial Inc. now owns 3,351 shares of the technology company’s stock valued at $225,000 after purchasing an additional 165 shares during the period. Bank of Montreal Can boosted its stake in Acacia Communications by 1,114.0% in the 2nd quarter. Bank of Montreal Can now owns 3,387 shares of the technology company’s stock valued at $230,000 after purchasing an additional 3,108 shares during the period. Finally, Gyon Technologies Capital Management LP bought a new stake in Acacia Communications in the 3rd quarter valued at $242,000. Institutional investors own 85.55% of the company’s stock.

Acacia Communications Company Profile

Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the United States, China, Germany, Thailand, and internationally. The company offers embedded and pluggable module products consisting of optical interconnect modules with transmission speeds ranging from 100 to 1,200 gigabits per second for use in long-haul, metro, and inter-data center markets.

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Analyst Recommendations for Acacia Communications (NASDAQ:ACIA)

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