Acacia Communications (NASDAQ:ACIA) Sets New 52-Week High at $66.23

Acacia Communications, Inc. (NASDAQ:ACIA)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $66.23 and last traded at $64.86, with a volume of 4684612 shares trading hands. The stock had previously closed at $48.06.

A number of research firms recently issued reports on ACIA. Bank of America upgraded Esperion Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, May 6th. Zacks Investment Research upgraded DLH from a “sell” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley boosted their price objective on Ollie’s Bargain Outlet from $74.00 to $79.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 27th. UBS Group boosted their price objective on Willis Towers Watson from $202.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, ValuEngine upgraded XCel Brands from a “sell” rating to a “hold” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $58.07.

The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 433.47, a P/E/G ratio of 2.82 and a beta of 1.72. The company has a quick ratio of 4.65, a current ratio of 4.93 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average price of $48.24.

Acacia Communications (NASDAQ:ACIA) last announced its earnings results on Thursday, May 2nd. The technology company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.26. The business had revenue of $105.20 million for the quarter, compared to analyst estimates of $101.10 million. Acacia Communications had a return on equity of 4.96% and a net margin of 5.63%. The company’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 EPS. On average, analysts predict that Acacia Communications, Inc. will post 0.92 EPS for the current year.

In other news, CEO Murugesan Shanmugaraj sold 9,796 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $52.22, for a total value of $511,547.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mehrdad Givehchi sold 8,618 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $52.20, for a total value of $449,859.60. The disclosure for this sale can be found here. Insiders sold a total of 152,250 shares of company stock valued at $7,576,219 over the last quarter. Company insiders own 9.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of ACIA. Comerica Bank acquired a new position in Acacia Communications during the 4th quarter valued at about $779,000. Prudential Financial Inc. acquired a new position in Acacia Communications during the 4th quarter valued at about $206,000. California Public Employees Retirement System acquired a new position in Acacia Communications during the 4th quarter valued at about $1,624,000. BlackRock Inc. increased its stake in Acacia Communications by 2.4% during the 4th quarter. BlackRock Inc. now owns 2,000,266 shares of the technology company’s stock valued at $76,011,000 after buying an additional 46,913 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in Acacia Communications during the 4th quarter valued at about $661,000. Hedge funds and other institutional investors own 75.65% 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.

See Also: How to build a Fibonacci channel

Receive News & Ratings for Acacia Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acacia Communications and related companies with MarketBeat.com's FREE daily email newsletter.