$88.95 Million in Sales Expected for Acacia Communications, Inc. (ACIA) This Quarter
Brokerages expect Acacia Communications, Inc. (NASDAQ:ACIA) to report $88.95 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Acacia Communications’ earnings. The highest sales estimate is $92.52 million and the lowest is $88.00 million. Acacia Communications posted sales of $142.43 million in the same quarter last year, which would indicate a negative year over year growth rate of 37.5%. The firm is scheduled 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 anticipate that the company will report sales of $438.92 million per share, with estimates ranging from $415.00 million to $465.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Acacia Communications.
Acacia Communications (NASDAQ:ACIA) last posted its earnings results on Thursday, November 2nd. The technology company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.11. The company had revenue of $105.00 million during the quarter, compared to the consensus estimate of $104.35 million. Acacia Communications had a net margin of 27.98% and a return on equity of 25.29%. The company’s revenue for the quarter was down 22.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 earnings per share.
Shares of Acacia Communications (NASDAQ ACIA) opened at $39.69 on Friday. The company has a market cap of $1,560.00 and a P/E ratio of 13.41. Acacia Communications has a 1 year low of $35.36 and a 1 year high of $69.57.
In related news, VP Mehrdad Givehchi sold 48,722 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $36.80, for a total transaction of $1,792,969.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Benny P. Mikkelsen sold 2,901 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $36.40, for a total transaction of $105,596.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,932 shares of company stock valued at $2,598,576. 37.10% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its stake in Acacia Communications by 4.5% during 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 during the last quarter. Royal Bank of Canada raised its stake in Acacia Communications by 12.1% during 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 during the last quarter. Vantage Financial Partners Ltd. Inc. raised its stake in Acacia Communications by 35.8% during 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 during the last quarter. First Trust Advisors LP acquired a new position in Acacia Communications during the 3rd quarter valued at $201,000. Finally, Stifel Financial Corp acquired a new position in Acacia Communications during the 3rd quarter valued at $218,000. Hedge funds and other institutional investors own 91.49% of the company’s stock.
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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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