Zacks: Analysts Expect Acacia Communications, Inc. (ACIA) to Announce $0.25 EPS

Analysts forecast that Acacia Communications, Inc. (NASDAQ:ACIA) will report earnings per share of $0.25 for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Acacia Communications’ earnings, with the lowest EPS estimate coming in at $0.19 and the highest estimate coming in at $0.33. Acacia Communications posted earnings of $0.94 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 73.4%. The firm is scheduled to report its next earnings report after the market closes on Thursday, February 22nd.

According to Zacks, analysts expect that Acacia Communications will report full year earnings of $1.74 per share for the current fiscal year, with EPS estimates ranging from $1.68 to $1.82. For the next financial year, analysts expect that the business will report earnings of $1.65 per share, with EPS estimates ranging from $1.33 to $2.11. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Acacia Communications.

ACIA has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Acacia Communications in a research report on Monday, October 23rd. Zacks Investment Research cut shares of 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. B. Riley raised shares of Acacia Communications from a “neutral” rating to a “buy” rating and upped their target price for the company from $44.00 to $49.00 in a research report on Friday, November 3rd. Finally, DA Davidson decreased their target price on shares of Acacia Communications to $48.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $49.00.

Shares of Acacia Communications (NASDAQ ACIA) traded down $0.33 on Wednesday, hitting $38.21. 256,500 shares of the company were exchanged, compared to its average volume of 364,607. Acacia Communications has a 12-month low of $34.20 and a 12-month high of $69.57. The stock has a market capitalization of $1,517.60, a price-to-earnings ratio of 12.91, a P/E/G ratio of 2.89 and a beta of 1.60.

In other news, VP Bhupendra C. Shah sold 8,277 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $38.32, for a total transaction of $317,174.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Murugesan Shanmugaraj sold 6,975 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $38.23, for a total transaction of $266,654.25. The disclosure for this sale can be found here. Insiders sold 96,758 shares of company stock worth $3,527,259 in the last ninety days. 37.10% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. First Trust Advisors LP acquired a new stake in shares of Acacia Communications during the third quarter worth about $201,000. Stifel Financial Corp acquired a new stake in shares of Acacia Communications during the third quarter worth about $218,000. Pitcairn Co. acquired a new stake in shares of Acacia Communications during the third quarter worth about $216,000. Commonwealth Equity Services Inc acquired a new stake in shares of Acacia Communications during the third quarter worth about $232,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Acacia Communications during the third quarter worth about $238,000. 91.48% of the stock is currently owned by institutional investors and hedge funds.

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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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