Analysts forecast that Acacia Communications, Inc. (NASDAQ:ACIA) will announce sales of $116.15 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Acacia Communications’ earnings, with the highest sales estimate coming in at $117.84 million and the lowest estimate coming in at $115.00 million. Acacia Communications posted sales of $94.81 million during the same quarter last year, which would indicate a positive year over year growth rate of 22.5%. The business is expected to announce its next quarterly earnings results on Thursday, November 7th.
On average, analysts expect that Acacia Communications will report full-year sales of $454.75 million for the current financial year, with estimates ranging from $450.20 million to $460.00 million. For the next year, analysts anticipate that the firm will report sales of $517.45 million, with estimates ranging from $497.29 million to $540.00 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Acacia Communications.
Acacia Communications (NASDAQ:ACIA) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $108.68 million.
A number of research analysts have recently issued reports on ACIA shares. Rosenblatt Securities reiterated a “neutral” rating on shares of Acacia Communications in a research note on Tuesday, July 16th. Piper Jaffray Companies cut shares of Acacia Communications from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $68.00 to $70.00 in a research note on Tuesday, July 9th. ValuEngine lowered shares of Acacia Communications from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. UBS Group lowered shares of Acacia Communications from a “buy” rating to a “neutral” rating and raised their price target for the company from $64.00 to $70.00 in a report on Wednesday, July 10th. Finally, Zacks Investment Research lowered shares of Acacia Communications from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $58.07.
In other Acacia Communications news, insider Benny P. Mikkelsen sold 2,736 shares of Acacia Communications stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $64.41, for a total transaction of $176,225.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Meridian Venture Partners Ii L sold 61,697 shares of Acacia Communications stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $71.64, for a total transaction of $4,419,973.08. The disclosure for this sale can be found here. In the last three months, insiders sold 75,078 shares of company stock valued at $5,278,763. 9.30% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC acquired a new stake in Acacia Communications during the 2nd quarter worth $31,000. Anderson Fisher LLC acquired a new stake in Acacia Communications during the 2nd quarter worth $86,000. Aperio Group LLC acquired a new stake in Acacia Communications during the 2nd quarter worth $88,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in Acacia Communications by 534.7% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,904 shares of the technology company’s stock worth $89,000 after acquiring an additional 1,604 shares during the period. Finally, Royal Bank of Canada grew its holdings in Acacia Communications by 76.3% during the 2nd quarter. Royal Bank of Canada now owns 2,243 shares of the technology company’s stock worth $106,000 after acquiring an additional 971 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:ACIA traded down $0.09 during trading on Thursday, reaching $64.88. The stock had a trading volume of 166,834 shares, compared to its average volume of 383,146. Acacia Communications has a 52 week low of $32.98 and a 52 week high of $67.49. The business’s 50-day moving average price is $64.45 and its 200 day moving average price is $58.44. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.18 and a quick ratio of 3.82. The stock has a market capitalization of $2.67 billion, a PE ratio of 73.00, a P/E/G ratio of 3.76 and a beta of 1.76.
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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