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.
A number of equities analysts recently issued reports on ACIA shares. B. Riley reaffirmed a neutral rating and issued a $44.00 price objective on shares of Acacia Communications in a report on Wednesday, August 9th. DA Davidson reduced their price target on shares of Acacia Communications to $48.00 and set a buy rating for the company in a research report on Friday, November 3rd. AltaCorp Capital upgraded shares of Acacia Communications from a neutral rating to a buy rating in a research report on Friday, November 3rd. Needham & Company LLC reiterated a buy rating and set a $50.00 price target on shares of Acacia Communications in a research report on Friday, November 3rd. Finally, Cowen and Company upgraded shares of Acacia Communications to an outperform rating and reduced their price target for the company from $55.00 to $41.00 in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $50.50.
Shares of Acacia Communications, Inc. (NASDAQ:ACIA) traded up $0.16 on Friday, reaching $36.11. The company’s stock had a trading volume of 430,400 shares, compared to its average volume of 1,094,708. The firm has a market cap of $1,415.61, a P/E ratio of 12.40, a PEG ratio of 2.08 and a beta of 2.85. Acacia Communications, Inc. has a 52 week low of $35.55 and a 52 week high of $79.38.
Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.11. Acacia Communications had a return on equity of 25.29% and a net margin of 27.98%. The company had revenue of $105.00 million during the quarter, compared to the consensus estimate of $104.35 million. During the same period in the previous year, the firm posted $1.01 EPS. Acacia Communications’s revenue was down 22.4% on a year-over-year basis. analysts expect that Acacia Communications, Inc. will post 1.15 EPS for the current year.
In related news, VP Bhupendra C. Shah sold 8,300 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $47.81, for a total transaction of $396,823.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Francis J. Murphy sold 598 shares of the company’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $44.32, for a total transaction of $26,503.36. The disclosure for this sale can be found here. Insiders have sold a total of 25,463 shares of company stock valued at $1,165,201 over the last three months. Corporate 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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