Acacia Communications, Inc. (NASDAQ:ACIA) – Stock analysts at William Blair reduced their Q1 2018 earnings per share (EPS) estimates for shares of Acacia Communications in a research report issued on Tuesday. William Blair analyst D. Netis now expects that the technology company will earn $0.04 per share for the quarter, down from their prior forecast of $0.14. William Blair currently has a “Buy” rating on the stock. William Blair also issued estimates for Acacia Communications’ Q4 2018 earnings at $0.30 EPS and FY2018 earnings at $0.75 EPS.
Several other brokerages have also commented on ACIA. Zacks Investment Research raised Acacia Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 4th. MKM Partners lowered their price objective on Acacia Communications from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Thursday, October 5th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Acacia Communications in a research report on Monday, October 23rd. AltaCorp Capital raised Acacia Communications from a “neutral” rating to a “buy” rating in a research report on Friday, November 3rd. Finally, DA Davidson lowered their price objective on Acacia Communications to $48.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $50.50.
Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.35 by $0.11. The business had revenue of $105.00 million during the quarter, compared to analyst estimates of $104.35 million. Acacia Communications had a return on equity of 25.29% and a net margin of 27.98%. The company’s revenue for the quarter was down 22.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 earnings per share.
Large investors have recently modified their holdings of the company. First Trust Advisors LP bought a new stake in Acacia Communications in the 3rd quarter worth about $201,000. Pitcairn Co. bought a new stake in Acacia Communications in the 3rd quarter worth about $216,000. Stifel Financial Corp bought a new stake in Acacia Communications in the 3rd quarter worth about $218,000. Commonwealth Equity Services Inc bought a new stake in Acacia Communications in the 3rd quarter worth about $232,000. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in Acacia Communications in the 1st quarter worth about $234,000. Hedge funds and other institutional investors own 91.48% of the company’s stock.
In other news, VP Bhupendra C. Shah sold 8,300 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $47.81, for a total transaction of $396,823.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Francis J. Murphy sold 598 shares of the firm’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $44.32, for a total value of $26,503.36. The disclosure for this sale can be found here. Insiders have sold 22,625 shares of company stock valued at $943,778 over the last 90 days. Corporate insiders own 37.10% 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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