Equities analysts expect that Acacia Communications, Inc. (NASDAQ:ACIA) will announce sales of $116.15 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Acacia Communications’ earnings. The lowest sales estimate is $115.00 million and the highest is $117.84 million. Acacia Communications reported sales of $94.81 million in the same quarter last year, which indicates a positive year over year growth rate of 22.5%. The business is scheduled to issue its next earnings report on Thursday, November 7th.
According to Zacks, analysts expect that Acacia Communications will report full year sales of $454.75 million for the current fiscal year, with estimates ranging from $450.20 million to $460.00 million. For the next financial year, analysts expect that the firm will post sales of $517.45 million, with estimates ranging from $497.29 million to $540.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Acacia Communications.
Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. Acacia Communications had a net margin of 5.30% and a return on equity of 7.30%. The company had revenue of $111.18 million during the quarter, compared to the consensus estimate of $108.68 million.
ACIA has been the subject of a number of research reports. Northland Securities reaffirmed a “buy” rating and issued a $65.00 target price on shares of Acacia Communications in a report on Monday, July 1st. Citigroup cut shares of Acacia Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, July 16th. Craig Hallum cut shares of Acacia Communications from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Needham & Company LLC cut shares of Acacia Communications from a “buy” rating to a “hold” rating and set a $64.91 target price for the company. in a report on Wednesday, July 10th. Finally, ValuEngine cut shares of Acacia Communications from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.07.
In related news, CEO Murugesan Shanmugaraj sold 43,000 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $50.12, for a total transaction of $2,155,160.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Francis J. Murphy sold 5,008 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $63.66, for a total transaction of $318,809.28. The disclosure for this sale can be found here. Insiders have sold 117,661 shares of company stock valued at $5,830,357 over the last three months. 9.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of ACIA. Tower Research Capital LLC TRC acquired a new stake in shares of Acacia Communications in the second quarter valued at approximately $31,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Acacia Communications during the first quarter worth approximately $39,000. Aperio Group LLC acquired a new stake in Acacia Communications during the second quarter worth approximately $88,000. First Quadrant L P CA acquired a new stake in Acacia Communications during the second quarter worth approximately $115,000. Finally, Meeder Asset Management Inc. acquired a new stake in Acacia Communications during the second quarter worth approximately $120,000. 74.03% of the stock is owned by institutional investors.
Shares of NASDAQ:ACIA traded down $0.44 on Friday, reaching $64.48. The company’s stock had a trading volume of 140,273 shares, compared to its average volume of 932,729. The business has a 50-day moving average price of $60.63. Acacia Communications has a 52-week low of $32.98 and a 52-week high of $67.49. The company has a quick ratio of 3.82, a current ratio of 4.18 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.65 billion, a PE ratio of 429.87, a P/E/G ratio of 3.53 and a beta of 1.74.
About Acacia Communications
Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the United States, China, Germany, Thailand, and internationally. The company offers embedded and pluggable module products consisting of optical interconnect modules with transmission speeds ranging from 100 to 1,200 gigabits per second for use in long-haul, metro, and inter-data center markets.
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