Acacia Communications, Inc. (ACIA) Expected to Post Quarterly Sales of $88.95 Million

Equities research analysts expect that Acacia Communications, Inc. (NASDAQ:ACIA) will post sales of $88.95 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Acacia Communications’ earnings. The highest sales estimate is $92.52 million and the lowest is $88.00 million. Acacia Communications posted sales of $142.43 million in the same quarter last year, which would indicate a negative year over year growth rate of 37.5%. The firm is scheduled to announce its next earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Acacia Communications will report full-year sales of $88.95 million for the current financial year, with estimates ranging from $386.60 million to $391.08 million. For the next financial year, analysts forecast that the firm will report sales of $438.92 million per share, with estimates ranging from $415.00 million to $465.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Acacia Communications.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. The company had revenue of $105.00 million during the quarter, compared to analysts’ expectations of $104.35 million. Acacia Communications had a return on equity of 25.29% and a net margin of 27.98%. Acacia Communications’s revenue for the quarter was down 22.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 earnings per share.

A number of analysts recently commented on ACIA shares. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Acacia Communications in a research report on Friday, November 3rd. Zacks Investment Research upgraded Acacia Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 4th. DA Davidson reduced their price objective on Acacia Communications to $48.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Cowen upgraded Acacia Communications to an “outperform” rating and reduced their price objective for the company from $55.00 to $41.00 in a research report on Friday, November 3rd. Finally, MKM Partners started coverage on Acacia Communications in a research report on Tuesday, September 19th. They set a “buy” rating and a $64.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $50.50.

Shares of Acacia Communications (NASDAQ ACIA) opened at $39.69 on Friday. The company has a market capitalization of $1,560.00 and a price-to-earnings ratio of 13.41. Acacia Communications has a 1 year low of $35.36 and a 1 year high of $69.57.

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 stock was sold at an average price of $44.32, for a total transaction of $26,503.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Murugesan Shanmugaraj sold 6,975 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $38.23, for a total value of $266,654.25. The disclosure for this sale can be found here. Insiders have sold 69,932 shares of company stock valued at $2,598,576 in the last three months. 37.10% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. boosted its stake in shares of Acacia Communications by 40.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 84,711 shares of the technology company’s stock worth $3,513,000 after acquiring an additional 24,282 shares during the period. Rhumbline Advisers boosted its stake in shares of Acacia Communications by 242.7% in the second quarter. Rhumbline Advisers now owns 20,583 shares of the technology company’s stock worth $854,000 after acquiring an additional 14,577 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Acacia Communications by 112.5% in the second quarter. Bank of New York Mellon Corp now owns 79,760 shares of the technology company’s stock worth $3,307,000 after acquiring an additional 42,232 shares during the period. Legal & General Group Plc boosted its stake in shares of Acacia Communications by 319.5% in the second quarter. Legal & General Group Plc now owns 6,503 shares of the technology company’s stock worth $269,000 after acquiring an additional 4,953 shares during the period. Finally, Swiss National Bank bought a new position in shares of Acacia Communications in the second quarter worth about $1,198,000. 91.49% of the stock is owned by institutional investors and hedge funds.

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About Acacia Communications

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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