Analysts Expect Acacia Communications, Inc. (NASDAQ:ACIA) Will Post Earnings of $0.43 Per Share

Brokerages predict that Acacia Communications, Inc. (NASDAQ:ACIA) will report $0.43 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have provided estimates for Acacia Communications’ earnings, with estimates ranging from $0.41 to $0.46. Acacia Communications reported earnings of $0.42 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.4%. The business is expected to report its next quarterly earnings report on Thursday, November 7th.

According to Zacks, analysts expect that Acacia Communications will report full year earnings of $1.64 per share for the current fiscal year, with EPS estimates ranging from $1.57 to $1.75. For the next fiscal year, analysts anticipate that the business will post earnings of $2.06 per share, with EPS estimates ranging from $1.74 to $2.35. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that cover Acacia Communications.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.04. Acacia Communications had a net margin of 5.30% and a return on equity of 7.30%. The company had revenue of $111.18 million during the quarter, compared to the consensus estimate of $108.68 million.



ACIA has been the subject of a number of research reports. B. Riley downgraded shares of Acacia Communications from a “buy” rating to a “neutral” rating in a research report on Friday, April 26th. UBS Group downgraded shares of Acacia Communications from a “buy” rating to a “neutral” rating and upped their price target for the company from $64.00 to $70.00 in a research report on Wednesday, July 10th. Needham & Company LLC downgraded shares of Acacia Communications from a “buy” rating to a “hold” rating and set a $64.91 price target for the company. in a research report on Wednesday, July 10th. Zacks Investment Research downgraded shares of Acacia Communications from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 9th. Finally, Piper Jaffray Companies downgraded shares of Acacia Communications from an “overweight” rating to a “neutral” rating and upped their price target for the company from $68.00 to $70.00 in a research report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $58.07.

Shares of ACIA stock traded down $0.44 during midday trading on Thursday, reaching $64.48. 140,273 shares of the company traded hands, compared to its average volume of 932,729. The business’s 50 day moving average price is $60.63. Acacia Communications has a 1-year low of $32.98 and a 1-year high of $67.49. The company has a current ratio of 4.18, a quick ratio of 3.82 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 429.87, a PEG ratio of 3.53 and a beta of 1.74.

In related news, VP Christian J. Rasmussen sold 12,000 shares of Acacia Communications stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $46.77, for a total transaction of $561,240.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Murugesan Shanmugaraj sold 12,180 shares of Acacia Communications stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $47.64, for a total value of $580,255.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,661 shares of company stock worth $5,830,357. Company insiders own 9.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Creative Planning raised its position in Acacia Communications by 1.6% during the first quarter. Creative Planning now owns 13,006 shares of the technology company’s stock valued at $746,000 after acquiring an additional 200 shares in the last quarter. Redmond Asset Management LLC boosted its stake in Acacia Communications by 0.9% during the first quarter. Redmond Asset Management LLC now owns 22,563 shares of the technology company’s stock worth $1,294,000 after buying an additional 205 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in Acacia Communications by 0.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 35,150 shares of the technology company’s stock worth $2,016,000 after buying an additional 260 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Acacia Communications by 2.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 10,951 shares of the technology company’s stock worth $628,000 after buying an additional 310 shares during the last quarter. Finally, Toth Financial Advisory Corp boosted its stake in Acacia Communications by 3.1% during the first quarter. Toth Financial Advisory Corp now owns 14,800 shares of the technology company’s stock worth $849,000 after buying an additional 450 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

About Acacia Communications

Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the United States, China, Germany, Thailand, and internationally. The company offers embedded and pluggable module products consisting of optical interconnect modules with transmission speeds ranging from 100 to 1,200 gigabits per second for use in long-haul, metro, and inter-data center markets.

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Earnings History and Estimates for Acacia Communications (NASDAQ:ACIA)

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