Acacia Communications (NASDAQ:ACIA) Stock Rating Lowered by Zacks Investment Research

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. “

A number of other brokerages have also commented on ACIA. Northland Securities upped their target price on Acacia Communications from $65.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday. Needham & Company LLC restated a “hold” rating on shares of Acacia Communications in a research note on Monday. Rosenblatt Securities restated a “buy” rating and issued a $110.00 target price on shares of Acacia Communications in a research note on Tuesday. BidaskClub upgraded Acacia Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, December 30th. 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 issued a buy rating to the company. Acacia Communications presently has a consensus rating of “Hold” and a consensus target price of $92.33.

ACIA opened at $86.45 on Tuesday. Acacia Communications has a 1-year low of $60.62 and a 1-year high of $86.98. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 54.37 and a beta of 0.78. The business has a 50 day moving average of $72.32 and a 200-day moving average of $68.99.

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

A number of institutional investors have recently added to or reduced their stakes in ACIA. Jeppson Wealth Management LLC acquired a new position in Acacia Communications during the third quarter worth $34,000. Nisa Investment Advisors LLC grew its holdings in shares of Acacia Communications by 257.6% during the third quarter. Nisa Investment Advisors LLC now owns 1,180 shares of the technology company’s stock worth $80,000 after purchasing an additional 850 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Acacia Communications by 5.2% during the second quarter. Prudential Financial Inc. now owns 3,351 shares of the technology company’s stock worth $225,000 after purchasing an additional 165 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Acacia Communications by 1,114.0% during the second quarter. Bank of Montreal Can now owns 3,387 shares of the technology company’s stock worth $230,000 after purchasing an additional 3,108 shares during the last quarter. Finally, Gyon Technologies Capital Management LP bought a new stake in shares of Acacia Communications during the third quarter worth $242,000. Hedge funds and other institutional investors own 85.55% of the company’s stock.

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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