Acacia Communications (NASDAQ:ACIA) issued an update on its first quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.01-0.10 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.28. The company issued revenue guidance of $67-74 million, compared to the consensus revenue estimate of $93.21 million.
Shares of Acacia Communications (NASDAQ:ACIA) traded down $1.60 during mid-day trading on Thursday, reaching $41.84. The company had a trading volume of 842,187 shares, compared to its average volume of 406,341. The firm has a market capitalization of $1,650.00 and a price-to-earnings ratio of 14.14. Acacia Communications has a 1 year low of $34.20 and a 1 year high of $64.37.
ACIA has been the subject of a number of research reports. William Blair initiated coverage on Acacia Communications in a research report on Tuesday, October 31st. They issued a buy rating for the company. Needham & Company LLC restated a buy rating and set a $50.00 target price on shares of Acacia Communications in a report on Friday, November 3rd. B. Riley upgraded Acacia Communications from a neutral rating to a buy rating and raised their target price for the stock from $44.00 to $49.00 in a report on Friday, November 3rd. Cowen upgraded Acacia Communications to an outperform rating and reduced their target price for the stock from $55.00 to $41.00 in a report on Friday, November 3rd. Finally, DA Davidson reduced their target price on Acacia Communications to $48.00 and set a buy rating on the stock in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $49.00.
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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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