Brokerages Expect Acacia Communications, Inc. (ACIA) to Post $0.35 EPS
Wall Street analysts expect Acacia Communications, Inc. (NASDAQ:ACIA) to post earnings of $0.35 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Acacia Communications’ earnings, with estimates ranging from $0.31 to $0.41. Acacia Communications posted earnings per share of $1.01 during the same quarter last year, which indicates a negative year over year growth rate of 65.3%. The firm is scheduled to issue its next earnings results on Thursday, November 9th.
On average, analysts expect that Acacia Communications will report full-year earnings of $1.88 per share for the current year, with EPS estimates ranging from $1.77 to $2.00. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.55 per share, with EPS estimates ranging from $2.40 to $2.93. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Acacia Communications.
Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. Acacia Communications had a return on equity of 34.46% and a net margin of 29.65%. The company had revenue of $78.90 million for the quarter, compared to the consensus estimate of $78.17 million. During the same quarter in the previous year, the business earned $0.77 EPS. Acacia Communications’s revenue was down 32.0% compared to the same quarter last year.
ACIA has been the topic of a number of recent analyst reports. William Blair reissued a “buy” rating on shares of Acacia Communications in a research report on Thursday, June 15th. Northland Securities set a $50.00 target price on shares of Acacia Communications and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Cowen and Company reaffirmed an “outperform” rating and set a $57.00 target price (down from $66.00) on shares of Acacia Communications in a research report on Monday, July 17th. DA Davidson began coverage on shares of Acacia Communications in a research report on Thursday, June 22nd. They set a “buy” rating and a $61.00 target price on the stock. Finally, MKM Partners began coverage on shares of Acacia Communications in a research report on Tuesday, September 19th. They set a “buy” rating and a $64.00 target price on the stock. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $53.25.
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Shares of Acacia Communications (NASDAQ:ACIA) traded down 1.49% on Wednesday, reaching $46.20. The company had a trading volume of 362,284 shares. Acacia Communications has a 52 week low of $38.50 and a 52 week high of $96.35. The stock’s 50 day moving average is $46.51 and its 200 day moving average is $46.51. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 15.80 and a beta of 3.27.
In related news, insider Francis J. Murphy sold 8,380 shares of Acacia Communications stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $48.00, for a total transaction of $402,240.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Murugesan Shanmugaraj sold 2,829 shares of Acacia Communications stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $44.46, for a total transaction of $125,777.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,655 shares of company stock worth $1,558,760. 37.10% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of ACIA. American International Group Inc. increased its holdings in Acacia Communications by 7.1% during the first quarter. American International Group Inc. now owns 3,225 shares of the technology company’s stock valued at $189,000 after buying an additional 215 shares during the period. Carl Domino Inc boosted its stake in Acacia Communications by 22.2% in the second quarter. Carl Domino Inc now owns 5,500 shares of the technology company’s stock valued at $228,000 after acquiring an additional 1,000 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in Acacia Communications in the first quarter valued at approximately $234,000. Koshinski Asset Management Inc. boosted its stake in Acacia Communications by 75.2% in the second quarter. Koshinski Asset Management Inc. now owns 6,150 shares of the technology company’s stock valued at $255,000 after acquiring an additional 2,640 shares in the last quarter. Finally, Brighton Jones LLC acquired a new stake in Acacia Communications in the second quarter valued at approximately $257,000. 81.84% of the stock is currently owned by institutional investors.
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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