Acacia Communications, Inc. (NASDAQ:ACIA) Expected to Post Quarterly Sales of $126.71 Million

Wall Street analysts expect Acacia Communications, Inc. (NASDAQ:ACIA) to post $126.71 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Acacia Communications’ earnings, with the lowest sales estimate coming in at $125.42 million and the highest estimate coming in at $128.00 million. Acacia Communications reported sales of $107.13 million in the same quarter last year, which would indicate a positive year over year growth rate of 18.3%. The firm is expected to report its next earnings results on Thursday, February 20th.

According to Zacks, analysts expect that Acacia Communications will report full year sales of $462.71 million for the current year, with estimates ranging from $461.41 million to $464.00 million. For the next fiscal year, analysts forecast that the firm will post sales of $527.41 million, with estimates ranging from $514.82 million to $540.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Acacia Communications.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.16. Acacia Communications had a return on equity of 8.57% and a net margin of 6.58%. The company had revenue of $119.59 million for the quarter, compared to analyst estimates of $116.15 million.

Several equities research analysts have recently weighed in on the stock. ValuEngine cut shares of Acacia Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Acacia Communications from a “hold” rating to a “strong-buy” rating and set a $76.00 target price on the stock in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $60.08.

Shares of NASDAQ:ACIA traded down $0.34 during trading on Monday, reaching $66.51. The stock had a trading volume of 8,524 shares, compared to its average volume of 749,348. The firm’s fifty day moving average is $66.07 and its 200 day moving average is $60.36. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.60 and a current ratio of 3.91. Acacia Communications has a 52 week low of $36.00 and a 52 week high of $67.99. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 443.53 and a beta of 1.73.

In related news, VP Francis J. Murphy sold 377 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $66.81, for a total transaction of $25,187.37. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 3,883 shares of company stock valued at $251,890. Insiders own 9.30% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC bought a new position in shares of Acacia Communications during the 2nd quarter worth about $31,000. Anderson Fisher LLC bought a new position in Acacia Communications in the second quarter worth approximately $86,000. Aperio Group LLC acquired a new stake in Acacia Communications in the second quarter valued at approximately $88,000. Ladenburg Thalmann Financial Services Inc. grew its stake in Acacia Communications by 534.7% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,904 shares of the technology company’s stock valued at $89,000 after acquiring an additional 1,604 shares during the period. Finally, Royal Bank of Canada increased its holdings in shares of Acacia Communications by 76.3% during the second quarter. Royal Bank of Canada now owns 2,243 shares of the technology company’s stock valued at $106,000 after acquiring an additional 971 shares in the last quarter. 78.96% of the stock is owned by hedge funds and other institutional investors.

Acacia Communications Company Profile

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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Earnings History and Estimates for Acacia Communications (NASDAQ:ACIA)

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