Trading Report: Today, Acacia Communications Inc. (ACIA) Given “Buy” Rating at Needham & Company LLC

Today, Acacia Communications Inc. (ACIA) Given “Buy” Rating at Needham & Company LLC

Acacia Communications Inc. (NASDAQ:ACIA)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research note issued on Saturday. They currently have a $125.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 60.22% from the stock’s current price.

Other equities analysts have also issued reports about the company. Deutsche Bank AG boosted their price target on Acacia Communications from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, September 9th. Bank of America Corp. reiterated a “buy” rating and issued a $130.00 price objective (up from $88.00) on shares of Acacia Communications in a research note on Sunday, September 4th. Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Acacia Communications in a research note on Wednesday, October 12th. Cowen and Company reiterated an “outperform” rating and issued a $99.00 price objective (up from $90.00) on shares of Acacia Communications in a research note on Thursday, November 10th. Finally, William Blair reiterated an “outperform” rating on shares of Acacia Communications in a research note on Tuesday, November 8th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $100.67.

Acacia Communications (NASDAQ:ACIA) traded up 4.15% during mid-day trading on Friday, hitting $78.02. The stock had a trading volume of 892,039 shares. The firm has a market cap of $2.92 billion and a P/E ratio of 35.89. Acacia Communications has a 1-year low of $27.05 and a 1-year high of $128.73. The stock has a 50 day moving average of $79.00 and a 200-day moving average of $72.71.

Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings results on Thursday, November 10th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.15. Acacia Communications had a return on equity of 69.87% and a net margin of 22.18%. The firm had revenue of $135.30 million for the quarter, compared to analyst estimates of $130.85 million. During the same period in the previous year, the company posted $0.29 earnings per share. The company’s quarterly revenue was up 106.8% compared to the same quarter last year. Analysts predict that Acacia Communications will post $3.16 EPS for the current fiscal year.

In related news, CFO John F. Gavin sold 25,501 shares of the stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $96.50, for a total transaction of $2,460,846.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Matrix Partners Viii L. P sold 1,445,307 shares of the stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $96.50, for a total value of $139,472,125.50. Following the sale, the insider now owns 10,646,247 shares in the company, valued at $1,027,362,835.50. The disclosure for this sale can be found here.

Large investors have recently added to or reduced their stakes in the company. American International Group Inc. acquired a new stake in Acacia Communications during the second quarter worth approximately $120,000. SG Americas Securities LLC acquired a new stake in Acacia Communications during the third quarter worth approximately $191,000. Rhumbline Advisers acquired a new stake in Acacia Communications during the second quarter worth approximately $201,000. Macguire Cheswick & Tuttle Investment Counsel LLC acquired a new stake in Acacia Communications during the third quarter worth approximately $207,000. Finally, Winfield Associates Inc. raised its stake in Acacia Communications by 115.0% in the third quarter. Winfield Associates Inc. now owns 2,150 shares of the company’s stock worth $222,000 after buying an additional 1,150 shares during the period. Institutional investors and hedge funds own 53.33% of the company’s stock.

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