Piper Jaffray Downgrades Acacia Communications to Hold

By Carrie Williams

In a report released yesterday, Troy Jensen from Piper Jaffray downgraded Acacia Communications (NASDAQ: ACIA) to Hold, with a price target of $26. The company’s shares closed yesterday at $25.63, close to its 52-week low of $24.72.

According to TipRanks.com, Jensen is a 5-star analyst with an average return of 12.3% and a 52.7% success rate. Jensen covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Lumentum Holdings, and AeroVironment.

Acacia Communications has an analyst consensus of Moderate Buy, with a price target consensus of $41.22.

The company has a one-year high of $55.21 and a one-year low of $24.72. Currently, Acacia Communications has an average volume of 727.7K.

Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Acacia Communications, Inc. engages 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. The company was founded by Mehrdad Givehchi, Benny P. Mikkelsen, and Christian J.