Equities analysts expect Acacia Communications, Inc. (NASDAQ:ACIA) to post earnings per share of $0.25 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Acacia Communications’ earnings, with estimates ranging from $0.19 to $0.33. Acacia Communications posted earnings of $0.94 per share during the same quarter last year, which would suggest a negative year over year growth rate of 73.4%. The company is scheduled to report its next quarterly earnings results on Thursday, February 22nd.
On average, analysts expect that Acacia Communications will report full year earnings of $1.74 per share for the current year, with EPS estimates ranging from $1.68 to $1.82. For the next financial year, analysts expect that the company will post earnings of $1.68 per share, with EPS estimates ranging from $1.33 to $2.11. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that follow Acacia Communications.
Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.46 EPS for the quarter, beating the 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 for the quarter, compared to analyst estimates of $104.35 million. During the same period last year, the company posted $1.01 earnings per share. The firm’s revenue was down 22.4% compared to the same quarter last year.
ACIA has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Acacia Communications in a research report on Monday, October 23rd. Zacks Investment Research lowered Acacia Communications from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 8th. William Blair reaffirmed a “buy” rating on shares of Acacia Communications in a research report on Tuesday, December 5th. MKM Partners dropped their target price on Acacia Communications from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Thursday, October 5th. Finally, B. Riley raised Acacia Communications from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $49.00 in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $50.50.
In related news, CEO Murugesan Shanmugaraj sold 6,975 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $38.23, for a total value of $266,654.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $26,503.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,932 shares of company stock valued at $2,598,576. 37.10% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. boosted its stake in 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 valued at $3,513,000 after acquiring an additional 24,282 shares during the period. Rhumbline Advisers boosted its stake in Acacia Communications by 242.7% in the second quarter. Rhumbline Advisers now owns 20,583 shares of the technology company’s stock valued at $854,000 after acquiring an additional 14,577 shares during the period. Bank of New York Mellon Corp boosted its stake in 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 valued at $3,307,000 after acquiring an additional 42,232 shares during the period. Legal & General Group Plc boosted its stake in Acacia Communications by 319.5% in the second quarter. Legal & General Group Plc now owns 6,503 shares of the technology company’s stock valued at $269,000 after acquiring an additional 4,953 shares during the period. Finally, Swiss National Bank acquired a new position in Acacia Communications in the second quarter valued at approximately $1,198,000. 91.49% of the stock is owned by hedge funds and other institutional investors.
Shares of Acacia Communications (NASDAQ ACIA) traded down $0.04 during midday trading on Thursday, hitting $39.69. The stock had a trading volume of 280,114 shares, compared to its average volume of 381,261. Acacia Communications has a twelve month low of $35.36 and a twelve month high of $69.57. The stock has a market capitalization of $1,560.00 and a price-to-earnings ratio of 13.41.
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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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