Wall Street brokerages expect that Acacia Communications, Inc. (NASDAQ:ACIA) will report sales of $105.19 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Acacia Communications’ earnings, with the lowest sales estimate coming in at $102.50 million and the highest estimate coming in at $110.33 million. Acacia Communications posted sales of $135.30 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 22.3%. The firm is scheduled to report its next quarterly earnings results after the market closes on Thursday, November 2nd.

According to Zacks, analysts expect that Acacia Communications will report full year sales of $105.19 million for the current year, with estimates ranging from $400.10 million to $425.39 million. For the next year, analysts forecast that the firm will report sales of $507.92 million per share, with estimates ranging from $485.00 million to $525.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Acacia Communications.

Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 analyst estimates of $78.17 million. During the same quarter last year, the firm earned $0.77 EPS. Acacia Communications’s revenue for the quarter was down 32.0% compared to the same quarter last year.

A number of equities analysts recently issued reports on the stock. B. Riley reissued a “neutral” rating and issued a $44.00 price target on shares of Acacia Communications in a research note on Wednesday, August 9th. William Blair assumed coverage on shares of Acacia Communications in a research note on Tuesday. They issued a “buy” rating for the company. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Acacia Communications in a research note on Friday, August 4th. MKM Partners decreased their target price on shares of Acacia Communications from $64.00 to $61.00 and set a “buy” rating for the company in a research note on Thursday, October 5th. Finally, Zacks Investment Research downgraded shares of Acacia Communications from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $53.25.

In other news, insider Francis J. Murphy sold 598 shares of the stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $44.32, for a total transaction of $26,503.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Murugesan Shanmugaraj sold 2,829 shares of the 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. In the last quarter, insiders have sold 33,843 shares of company stock worth $1,567,441. Corporate insiders own 37.10% of the company’s stock.

Large investors have recently bought and sold shares of the company. American International Group Inc. boosted its holdings in Acacia Communications by 7.1% in the first quarter. American International Group Inc. now owns 3,225 shares of the technology company’s stock worth $189,000 after purchasing an additional 215 shares during the last quarter. First Trust Advisors LP purchased a new stake in Acacia Communications in the third quarter worth approximately $201,000. Carl Domino Inc boosted its holdings in Acacia Communications by 22.2% in the second quarter. Carl Domino Inc now owns 5,500 shares of the technology company’s stock worth $228,000 after purchasing an additional 1,000 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in Acacia Communications in the first quarter worth approximately $234,000. Finally, Thompson Davis & CO. Inc. boosted its holdings in Acacia Communications by 4,100.0% in the third quarter. Thompson Davis & CO. Inc. now owns 5,250 shares of the technology company’s stock worth $247,000 after purchasing an additional 5,125 shares during the last quarter. Hedge funds and other institutional investors own 82.12% 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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Earnings History and Estimates for Acacia Communications (NASDAQ:ACIA)

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