Needham analyst Alex Henderson maintained a Hold rating on Acacia Communications (ACIA) yesterday. The company’s shares closed yesterday at $58.44, close to its 52-week high of $62.18.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 16.8% and a 56.6% success rate. Henderson covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Lumentum Holdings, and Arista Networks.
Currently, the analyst consensus on Acacia Communications is a Moderate Buy with an average price target of $60.07.
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Based on Acacia Communications’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $9.09 million. In comparison, last year the company had a GAAP net loss of $9.08 million.
Based on the recent corporate insider activity of 112 insiders, corporate insider sentiment is negative on the stock.
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Acacia Communications, Inc. is engaged in the development, manufacture, and sale of high-speed coherent optical interconnect products that are designed to transform communications networks through improvements in performance, capacity, and cost.
