Acacia Communications, Inc. (ACIA) Expected to Announce Quarterly Sales of $88.95 Million

Wall Street analysts forecast that Acacia Communications, Inc. (NASDAQ:ACIA) will report $88.95 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Acacia Communications’ earnings, with the highest sales estimate coming in at $92.52 million and the lowest estimate coming in at $88.00 million. Acacia Communications posted sales of $142.43 million during the same quarter last year, which would indicate a negative year over year growth rate of 37.5%. The firm is expected to report its next quarterly earnings results 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 financial year, analysts expect that the firm will report sales of $438.92 million per share, with estimates ranging from $415.00 million to $465.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Acacia Communications.

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

Several brokerages have weighed in on ACIA. William Blair reaffirmed a “buy” rating on shares of Acacia Communications in a research note on Tuesday, December 5th. Zacks Investment Research cut Acacia Communications from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 8th. AltaCorp Capital raised Acacia Communications from a “neutral” rating to a “buy” rating in a research note on Friday, November 3rd. DA Davidson lowered their price target on Acacia Communications to $48.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Finally, Cowen upgraded Acacia Communications to an “outperform” rating and lowered their price target for the company from $55.00 to $41.00 in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. Acacia Communications has a consensus rating of “Buy” and a consensus target price of $50.50.

Shares of Acacia Communications (NASDAQ:ACIA) traded down $0.66 during midday trading on Thursday, reaching $36.93. The company’s stock had a trading volume of 372,907 shares, compared to its average volume of 1,004,974. Acacia Communications has a 52 week low of $35.36 and a 52 week high of $69.57. The company has a market capitalization of $1,460.00 and a PE ratio of 12.48.

In other news, VP Bhupendra C. Shah sold 8,277 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $38.32, for a total transaction of $317,174.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Bhupendra C. Shah sold 8,300 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $47.81, for a total value of $396,823.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,625 shares of company stock valued at $943,778. 37.10% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Wisconsin Investment Board increased its position in shares of Acacia Communications by 7.7% in the 2nd quarter. State of Wisconsin Investment Board now owns 70,000 shares of the technology company’s stock valued at $2,903,000 after acquiring an additional 5,000 shares during the period. Koch Industries Inc. grew its position in Acacia Communications by 9,918.7% during the 2nd quarter. Koch Industries Inc. now owns 522,678 shares of the technology company’s stock worth $510,000 after purchasing an additional 517,461 shares during the period. Oak Ridge Investments LLC acquired a new stake in Acacia Communications during the 3rd quarter worth about $12,992,000. Engineers Gate Manager LP acquired a new stake in Acacia Communications during the 2nd quarter worth about $1,013,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Acacia Communications by 15.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,298 shares of the technology company’s stock worth $1,754,000 after purchasing an additional 5,798 shares during the period. 91.49% of the stock is currently owned by hedge funds and other institutional investors.

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

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