UBS Group Analysts Give Acacia Communications (ACIA) a $51.00 Price Target

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Acacia Communications (NASDAQ:ACIA) has been given a $51.00 price target by investment analysts at UBS Group in a research report issued on Wednesday, www.tipranks.com reports. The brokerage currently has a “buy” rating on the technology company’s stock. UBS Group’s target price points to a potential upside of 9.47% from the stock’s previous close.

A number of other analysts also recently issued reports on ACIA. Zacks Investment Research downgraded shares of Acacia Communications from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. MKM Partners upped their price target on shares of Acacia Communications from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday, November 2nd. Loop Capital upped their price target on shares of Acacia Communications to $60.00 and gave the stock a “reduce” rating in a report on Thursday, December 6th. ValuEngine raised shares of Acacia Communications from a “hold” rating to a “buy” rating in a report on Friday, November 2nd. Finally, TheStreet raised shares of Acacia Communications from a “d+” rating to a “c-” rating in a report on Monday, December 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. Acacia Communications currently has a consensus rating of “Hold” and a consensus price target of $45.27.

NASDAQ ACIA traded up $1.27 during trading on Wednesday, reaching $46.59. The company’s stock had a trading volume of 779,269 shares, compared to its average volume of 446,428. The company has a market capitalization of $1.81 billion, a P/E ratio of 39.15, a P/E/G ratio of 4.68 and a beta of 1.65. Acacia Communications has a 12 month low of $24.72 and a 12 month high of $47.26.

In related news, CEO Murugesan Shanmugaraj sold 4,132 shares of the stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $42.34, for a total value of $174,948.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Bhupendra C. Shah sold 44,626 shares of the stock in a transaction that occurred on Wednesday, January 9th. The shares were sold at an average price of $41.35, for a total transaction of $1,845,285.10. The disclosure for this sale can be found here. In the last three months, insiders sold 62,831 shares of company stock valued at $2,621,230. 33.20% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the stock. Legal & General Group Plc lifted its stake in Acacia Communications by 6.1% in the 4th quarter. Legal & General Group Plc now owns 10,014 shares of the technology company’s stock valued at $380,000 after purchasing an additional 576 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in Acacia Communications by 6.9% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 10,641 shares of the technology company’s stock valued at $404,000 after acquiring an additional 687 shares during the period. PNC Financial Services Group Inc. increased its position in Acacia Communications by 31.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,240 shares of the technology company’s stock valued at $258,000 after acquiring an additional 1,500 shares during the period. Great West Life Assurance Co. Can increased its position in Acacia Communications by 100.6% in the 4th quarter. Great West Life Assurance Co. Can now owns 3,611 shares of the technology company’s stock valued at $132,000 after acquiring an additional 1,811 shares during the period. Finally, Teachers Advisors LLC increased its position in Acacia Communications by 3.7% in the 3rd quarter. Teachers Advisors LLC now owns 54,238 shares of the technology company’s stock valued at $2,244,000 after acquiring an additional 1,919 shares during the period. 75.77% of the stock is owned by institutional investors and hedge funds.

Acacia Communications Company Profile

Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific region. Its products include a series of low-power coherent digital signal processor application-specific integrated circuits and silicon photonic integrated circuits that are integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per second for use in long-haul, metro, and inter-data center markets.

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Analyst Recommendations for Acacia Communications (NASDAQ:ACIA)

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