Acacia Communications (NASDAQ:ACIA) Hits New 1-Year High at $68.65

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Acacia Communications, Inc. (NASDAQ:ACIA)’s share price reached a new 52-week high on Thursday . The company traded as high as $68.65 and last traded at $68.64, with a volume of 25104 shares. The stock had previously closed at $68.47.

A number of analysts have recently weighed in on ACIA shares. ValuEngine lowered shares of Acacia Communications from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research lowered shares of Acacia Communications from a “buy” rating to a “hold” rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $60.09.

The company has a quick ratio of 3.60, a current ratio of 3.91 and a debt-to-equity ratio of 0.03. The company’s fifty day simple moving average is $67.49 and its 200 day simple moving average is $64.69. The firm has a market capitalization of $2.83 billion, a PE ratio of 457.73, a price-to-earnings-growth ratio of 1.45 and a beta of 1.70.

Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.16. Acacia Communications had a net margin of 6.58% and a return on equity of 8.57%. The business had revenue of $119.59 million during the quarter, compared to analyst estimates of $116.15 million. Equities research analysts forecast that Acacia Communications, Inc. will post 1.26 EPS for the current year.

In other Acacia Communications news, VP Francis J. Murphy sold 377 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $66.81, for a total value of $25,187.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 1,369 shares of company stock valued at $90,756 over the last 90 days. 9.30% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ACIA. FMR LLC increased its stake in shares of Acacia Communications by 9.1% during the first quarter. FMR LLC now owns 513,183 shares of the technology company’s stock valued at $29,431,000 after purchasing an additional 42,623 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Acacia Communications by 83.1% during the second quarter. Wells Fargo & Company MN now owns 98,609 shares of the technology company’s stock valued at $4,650,000 after purchasing an additional 44,754 shares in the last quarter. Smith Asset Management Group LP bought a new position in shares of Acacia Communications during the second quarter valued at approximately $988,000. Bank of Montreal Can bought a new position in shares of Acacia Communications during the second quarter valued at approximately $205,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Acacia Communications by 15.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 184,997 shares of the technology company’s stock valued at $8,725,000 after purchasing an additional 25,040 shares in the last quarter. Institutional investors and hedge funds own 78.96% of the company’s stock.

Acacia Communications Company Profile (NASDAQ:ACIA)

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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