Acacia Communications (ACIA) is Reiterated by Needham to Buy, Raises Price Target to $ 100

Acacia Communications (ACIA) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 100 from a previous price target of $65 . Needham advised their investors in a research report released on Aug 12, 2016.

Many Wall Street Analysts have commented on Acacia Communications. Company shares were Reiterated by Needham on Jul 25, 2016 to “Buy”, Firm has raised the Price Target to $ 65 from a previous price target of $48 .Company shares were Reiterated by Deutsche Bank on Jul 14, 2016 to “Buy”, Firm has raised the Price Target to $ 60 from a previous price target of $50 .Acacia Communications was Initiated by Goldman to “Neutral” on Jun 7, 2016.

On the company’s financial health, Acacia Communications reported $0.77 EPS for the quarter, beating the analyst consensus estimate by $ 0.47 according to the earnings call on Aug 11, 2016. Analyst had a consensus of $0.30. The company had revenue of $116.20 million for the quarter, compared to analysts expectations of $85.78 million. The company’s revenue was up 101.0% compared to the same quarter last year.

In a different news, on May 20, 2016, Murugesan Shanmugaraj (President & CEO) sold 50,000 shares at $21.39 per share price. According to the SEC, on May 20, 2016, Eric A Swanson (director) sold 65,000 shares at $21.39 per share price. On May 20, 2016, Christian J. Rasmussen (VP Digital Signal Proc&Optics) sold 103,772 shares at $21.39 per share price, according to the Form-4 filing with the securities and exchange commission.

Acacia Communications

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