Acacia Communications, Inc. (NASDAQ:ACIA) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.19-0.36 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.47. The company issued revenue guidance of $83-93 million, compared to the consensus revenue estimate of $113.09 million.
Several equities research analysts recently commented on the stock. Needham & Company LLC reissued a buy rating and issued a $50.00 price target on shares of Acacia Communications in a report on Monday, October 23rd. William Blair began coverage on shares of Acacia Communications in a research note on Tuesday. They set a buy rating on the stock. Northland Securities set a $50.00 target price on shares of Acacia Communications and gave the stock a buy rating in a research note on Saturday, July 22nd. Zacks Investment Research cut shares of Acacia Communications from a hold rating to a strong sell rating in a research note on Tuesday, August 22nd. Finally, Cowen and Company reaffirmed an outperform rating and set a $57.00 target price (down previously from $66.00) on shares of Acacia Communications in a research note on Monday, July 17th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $50.50.
Shares of Acacia Communications, Inc. (NASDAQ:ACIA) traded down $6.58 on Friday, reaching $36.82. 1,317,386 shares of the company traded hands, compared to its average volume of 455,598. The stock has a market capitalization of $1.54 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.85 and a beta of 2.85.
Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.11. The firm had revenue of $105.00 million for the quarter, compared to analyst estimates of $104.35 million. Acacia Communications had a net margin of 27.98% and a return on equity of 25.94%. Acacia Communications’s revenue was down 22.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. equities research analysts expect that Acacia Communications, Inc. will post 1.41 EPS for the current fiscal year.
In other Acacia Communications news, insider Francis J. Murphy sold 598 shares of the business’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $44.32, for a total transaction of $26,503.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Bhupendra C. Shah sold 8,300 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $47.81, for a total transaction of $396,823.00. The disclosure for this sale can be found here. Insiders have sold 33,843 shares of company stock worth $1,567,441 over the last quarter. Insiders own 37.10% of the company’s stock.
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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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