Brokerages predict that Acacia Communications, Inc. (NASDAQ:ACIA) will post $0.25 earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Acacia Communications’ earnings. The highest EPS estimate is $0.33 and the lowest is $0.19. Acacia Communications reported earnings of $0.94 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 73.4%. The business is expected to report its next earnings results on Thursday, February 22nd.
According to Zacks, analysts expect that Acacia Communications will report full-year earnings of $1.74 per share for the current financial year, with EPS estimates ranging from $1.68 to $1.82. For the next fiscal year, analysts anticipate that the business will report earnings of $1.73 per share, with EPS estimates ranging from $1.33 to $2.11. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Acacia Communications.
Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. Acacia Communications had a return on equity of 25.29% and a net margin of 27.98%. The business had revenue of $105.00 million during the quarter, compared to the consensus estimate of $104.35 million. During the same quarter in the previous year, the business earned $1.01 EPS. The company’s quarterly revenue was down 22.4% on a year-over-year basis.
ACIA has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Acacia Communications from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Acacia Communications in a research note on Friday, November 3rd. B. Riley restated a “neutral” rating and issued a $44.00 target price on shares of Acacia Communications in a research note on Wednesday, August 9th. Cowen and Company restated an “outperform” rating and issued a $57.00 target price on shares of Acacia Communications in a research note on Monday, July 24th. Finally, DA Davidson cut their target price on Acacia Communications to $48.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $50.50.
In related news, insider Benny P. Mikkelsen sold 2,901 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $36.40, for a total value of $105,596.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Bhupendra C. Shah sold 8,300 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $44.59, for a total value of $370,097.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,481 shares of company stock worth $1,036,684. 37.10% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Alps Advisors Inc. raised its holdings in Acacia Communications by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 9,357 shares of the technology company’s stock valued at $388,000 after acquiring an additional 24 shares during the period. American International Group Inc. raised its holdings in Acacia Communications by 7.1% during the 1st quarter. American International Group Inc. now owns 3,225 shares of the technology company’s stock valued at $189,000 after acquiring an additional 215 shares during the period. Princeton Capital Management Inc. raised its holdings in Acacia Communications by 1.3% during the 2nd quarter. Princeton Capital Management Inc. now owns 29,008 shares of the technology company’s stock valued at $1,203,000 after acquiring an additional 364 shares during the period. Winfield Associates Inc. raised its holdings in Acacia Communications by 6.0% during the 2nd quarter. Winfield Associates Inc. now owns 7,105 shares of the technology company’s stock valued at $295,000 after acquiring an additional 400 shares during the period. Finally, Carl Domino Inc raised its holdings in Acacia Communications by 22.2% during the 2nd quarter. Carl Domino Inc now owns 5,500 shares of the technology company’s stock valued at $228,000 after acquiring an additional 1,000 shares during the period. 84.53% of the stock is currently owned by institutional investors and hedge funds.
Shares of Acacia Communications (ACIA) traded up $0.40 during midday trading on Monday, hitting $37.95. The stock had a trading volume of 112,428 shares, compared to its average volume of 1,079,447. Acacia Communications has a 12-month low of $35.36 and a 12-month high of $79.38. The stock has a market cap of $1,480.00 and a P/E ratio of 12.95.
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Acacia Communications Company Profile
Acacia Communications, Inc provides high-speed coherent interconnect products. The Company’s products include a series of low-power coherent digital signal processor application-specific integrated circuits (DSP ASICs), and silicon photonic integrated circuits (silicon PICs), which it has integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per second (Gbps) for use in long-haul, metro and inter-data center markets.
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