The Acacia Communications, Inc. (ACIA) Downgraded by Morgan Stanley to “Equal Weight”

The Acacia Communications, Inc. (ACIA) Downgraded by Morgan Stanley to “Equal Weight”

A number of other brokerages have also recently issued reports on ACIA. Cowen and Company restated an outperform rating and set a $115.00 target price on shares of Acacia Communications in a report on Wednesday, February 22nd. William Blair restated an outperform rating on shares of Acacia Communications in a report on Friday, February 24th. Needham & Company LLC reduced their target price on Acacia Communications from $125.00 to $100.00 and set a buy rating on the stock in a report on Friday, February 24th. Zacks Investment Research cut Acacia Communications from a strong-buy rating to a hold rating in a report on Monday, January 16th. Finally, B. Riley initiated coverage on Acacia Communications in a report on Tuesday, April 4th. They set a neutral rating and a $60.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $64.25.

Morgan Stanley downgraded shares of Acacia Communications, Inc. (NASDAQ:ACIA) from an overweight rating to an equal weight rating in a research note issued to investors on Thursday, May 11th. Morgan Stanley currently has $45.00 target price on the technology company’s stock, down from their prior target price of $70.00.

Shares of Acacia Communications (NASDAQ ACIA) opened at 47.30 on Thursday. Acacia Communications has a 52 week low of $32.92 and a 52 week high of $128.73. The firm has a market cap of $1.83 billion and a PE ratio of 13.92. The company’s 50-day moving average is $48.13 and its 200-day moving average is $58.07. Acacia Communications (NASDAQ:ACIA) last issued its earnings results on Tuesday, May 9th. The technology company reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.34. Acacia Communications had a return on equity of 69.87% and a net margin of 22.18%. The firm had revenue of $114.67 million for the quarter, compared to analysts’ expectations of $112.46 million. During the same quarter last year, the business earned $0.44 earnings per share. The company’s revenue was up 35.7% compared to the same quarter last year. Analysts forecast that Acacia Communications will post $2.19 EPS for the current fiscal year.

In related news, Director John Ritchie sold 2,640 shares of Acacia Communications stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $47.20, for a total value of $124,608.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Bhupendra C. Shah sold 13,060 shares of Acacia Communications stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $59.11, for a total value of $771,976.60. The disclosure for this sale can be found here. Insiders have sold a total of 145,452 shares of company stock worth $7,506,946 in the last quarter. A number of large investors have recently made changes to their positions in ACIA. Fortaleza Asset Management Inc. purchased a new stake in shares of Acacia Communications during the fourth quarter worth about $116,000. FNY Partners Fund LP purchased a new stake in shares of Acacia Communications during the fourth quarter worth about $124,000. Winfield Associates Inc. raised its stake in shares of Acacia Communications by 115.0% in the third quarter. Winfield Associates Inc. now owns 2,150 shares of the technology company’s stock worth $222,000 after buying an additional 1,150 shares in the last quarter. American International Group Inc. raised its stake in shares of Acacia Communications by 7.1% in the first quarter. American International Group Inc. now owns 3,225 shares of the technology company’s stock worth $189,000 after buying an additional 215 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Acacia Communications during the fourth quarter worth about $203,000. 66.39% of the stock is currently owned by institutional investors and hedge funds.

Acacia Communications Company Profile Acacia Communications, Inc provides high-speed coherent interconnect products. The Company’s products include a series of low-power coherent digital signal processor application-specific integrated circuits (DSP ASICs), and silicon photonic integrated circuits (silicon PICs), which it has integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per second (Gbps) for use in long-haul, metro and inter-data center markets.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ACIA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Receive News & Ratings for Acacia Communications Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Acacia Communications Inc. and related companies with our FREE daily email newsletter.

Related posts

Leave a Comment