Acacia Communications (NASDAQ:ACIA) Earning Somewhat Positive Press Coverage, Report Finds

News headlines about Acacia Communications (NASDAQ:ACIA) have trended somewhat positive recently, according to Accern Sentiment. Accern rates the sentiment of press coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Acacia Communications earned a daily sentiment score of 0.15 on Accern’s scale. Accern also assigned media stories about the technology company an impact score of 45.3042243300892 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.

These are some of the news articles that may have effected Accern’s scoring:

Acacia Communications (NASDAQ ACIA) opened at 43.80 on Friday. Acacia Communications has a 52 week low of $38.50 and a 52 week high of $128.73. The company has a 50-day moving average of $43.21 and a 200-day moving average of $49.47. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 14.98 and a beta of 3.79.

Acacia Communications (NASDAQ:ACIA) last issued its earnings results on Thursday, August 3rd. The technology company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.08. Acacia Communications had a net margin of 29.65% and a return on equity of 34.46%. The company had revenue of $78.90 million for the quarter, compared to analyst estimates of $78.17 million. During the same period in the prior year, the business posted $0.77 earnings per share. The firm’s revenue for the quarter was down 32.0% compared to the same quarter last year. Analysts anticipate that Acacia Communications will post $1.88 earnings per share for the current year.

A number of equities research analysts have recently commented on the company. B. Riley restated a “neutral” rating and set a $44.00 target price on shares of Acacia Communications in a research report on Wednesday, August 9th. Cowen and Company restated a “buy” rating and set a $55.00 target price (down from $57.00) on shares of Acacia Communications in a research report on Friday, August 4th. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Acacia Communications in a research report on Friday, August 4th. Northland Securities set a $50.00 target price on Acacia Communications and gave the company a “buy” rating in a research report on Saturday, July 22nd. Finally, William Blair restated an “outperform” rating on shares of Acacia Communications in a research report on Monday, July 17th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $61.89.

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In related news, CEO Murugesan Shanmugaraj sold 2,829 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $44.46, for a total transaction of $125,777.34. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Christian J. Rasmussen sold 3,307 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $44.46, for a total transaction of $147,029.22. The disclosure for this sale can be found here. Insiders have sold 16,089 shares of company stock worth $743,683 over the last 90 days.

About Acacia Communications

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.

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