Several other brokerages also recently weighed in on ACIA. Zacks Investment Research downgraded Acacia Communications from a hold rating to a strong sell rating in a report on Monday, February 24th. ValuEngine downgraded Acacia Communications from a hold rating to a sell rating in a report on Tuesday, February 4th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $63.79.
Shares of NASDAQ ACIA opened at $68.51 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.90 and a current ratio of 4.26. The business’s 50 day moving average price is $68.66 and its 200-day moving average price is $66.39. Acacia Communications has a fifty-two week low of $44.38 and a fifty-two week high of $69.00. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 88.98, a PEG ratio of 1.99 and a beta of 1.70.
Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.08). Acacia Communications had a return on equity of 8.59% and a net margin of 7.07%. The business had revenue of $128.67 million during the quarter, compared to analysts’ expectations of $126.71 million. Sell-side analysts predict that Acacia Communications will post 1.14 earnings per share for the current year.
In other Acacia Communications news, VP Francis J. Murphy sold 377 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $66.81, for a total transaction of $25,187.37. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 810 shares of company stock worth $54,483 in the last ninety days. Insiders own 9.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Carroll Financial Associates Inc. bought a new stake in Acacia Communications during the 4th quarter valued at $39,000. Ancora Advisors LLC purchased a new stake in shares of Acacia Communications during the 4th quarter valued at $68,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Acacia Communications by 49.0% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,241 shares of the technology company’s stock valued at $84,000 after purchasing an additional 408 shares during the last quarter. Great West Life Assurance Co. Can purchased a new stake in shares of Acacia Communications during the 4th quarter valued at $145,000. Finally, Royal Bank of Canada lifted its holdings in shares of Acacia Communications by 76.3% during the 2nd quarter. Royal Bank of Canada now owns 2,243 shares of the technology company’s stock valued at $106,000 after purchasing an additional 971 shares during the last quarter. 79.93% of the stock is currently owned by institutional investors and hedge funds.
About Acacia Communications
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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