Equities analysts forecast that Acacia Communications, Inc. (NASDAQ:ACIA) will post $88.95 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Acacia Communications’ earnings, with estimates ranging from $88.00 million to $92.52 million. Acacia Communications reported sales of $142.43 million in the same quarter last year, which indicates a negative year-over-year growth rate of 37.5%. The firm is expected to issue its next quarterly earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Acacia Communications will report full year sales of $88.95 million for the current year, with estimates ranging from $386.60 million to $391.08 million. For the next fiscal year, analysts expect that the company will post sales of $438.92 million per share, with estimates ranging from $415.00 million to $465.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Acacia Communications.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.11. Acacia Communications had a net margin of 27.98% and a return on equity of 25.29%. The company had revenue of $105.00 million for the quarter, compared to analyst estimates of $104.35 million. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The company’s quarterly revenue was down 22.4% compared to the same quarter last year.

A number of research firms recently weighed in on ACIA. Zacks Investment Research raised shares of Acacia Communications from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th. MKM Partners decreased their target price on shares of Acacia Communications from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Acacia Communications in a report on Monday, October 23rd. William Blair began coverage on shares of Acacia Communications in a report on Tuesday, October 31st. They set a “buy” rating on the stock. Finally, AltaCorp Capital raised shares of Acacia Communications from a “neutral” rating to a “buy” rating in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $50.50.

In other Acacia Communications news, VP Bhupendra C. Shah sold 8,277 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $38.32, for a total value of $317,174.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Bhupendra C. Shah sold 8,300 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $47.81, for a total transaction of $396,823.00. The disclosure for this sale can be found here. In the last three months, insiders sold 22,625 shares of company stock valued at $943,778. Corporate insiders own 37.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. boosted its stake in shares of Acacia Communications by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 9,357 shares of the technology company’s stock valued at $388,000 after purchasing an additional 24 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Acacia Communications by 4.5% in the 2nd quarter. Wells Fargo & Company MN now owns 34,629 shares of the technology company’s stock valued at $1,436,000 after purchasing an additional 1,481 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Acacia Communications by 12.1% in the 2nd quarter. Royal Bank of Canada now owns 13,966 shares of the technology company’s stock valued at $579,000 after purchasing an additional 1,511 shares in the last quarter. Vantage Financial Partners Ltd. Inc. boosted its stake in shares of Acacia Communications by 35.8% in the 3rd quarter. Vantage Financial Partners Ltd. Inc. now owns 14,400 shares of the technology company’s stock valued at $1,058,000 after purchasing an additional 3,800 shares in the last quarter. Finally, First Trust Advisors LP purchased a new stake in shares of Acacia Communications in the 3rd quarter valued at $201,000. 91.48% of the stock is owned by institutional investors and hedge funds.

Acacia Communications (ACIA) traded up $0.23 during midday trading on Friday, hitting $40.49. Acacia Communications has a 52 week low of $35.36 and a 52 week high of $71.50. The stock has a market cap of $1,590.00 and a price-to-earnings ratio of 13.96.

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

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