Acacia Communications (ACIA) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Acacia Communications (NASDAQ:ACIA) released its quarterly earnings data on Thursday. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02, Briefing.com reports. The business had revenue of $86.60 million for the quarter, compared to analyst estimates of $88.41 million. Acacia Communications had a return on equity of 25.29% and a net margin of 27.98%. Acacia Communications’s revenue was down 39.2% compared to the same quarter last year. During the same period last year, the firm posted $0.94 earnings per share. Acacia Communications updated its Q1 guidance to $0.01-0.10 EPS.

Shares of Acacia Communications (ACIA) traded down $6.63 during mid-day trading on Friday, hitting $35.21. The stock had a trading volume of 2,023,349 shares, compared to its average volume of 434,887. Acacia Communications has a 12-month low of $33.68 and a 12-month high of $61.15. The firm has a market capitalization of $1,710.55, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 2.38 and a beta of 1.60.

Several analysts recently weighed in on ACIA shares. William Blair reaffirmed an “outperform” rating on shares of Acacia Communications in a research note on Wednesday. Zacks Investment Research lowered Acacia Communications from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 8th. B. Riley raised Acacia Communications from a “neutral” rating to a “buy” rating and lifted their price target for the company from $44.00 to $49.00 in a research note on Friday, November 3rd. DA Davidson cut their price target on Acacia Communications to $48.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Acacia Communications in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. Acacia Communications presently has a consensus rating of “Buy” and an average target price of $47.91.

In other news, CEO Murugesan Shanmugaraj sold 1,898 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $38.48, for a total transaction of $73,035.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Benny P. Mikkelsen sold 1,900 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $38.48, for a total value of $73,112.00. The disclosure for this sale can be found here. Insiders have sold 102,088 shares of company stock worth $3,732,358 over the last three months. 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.

Earnings History for Acacia Communications (NASDAQ:ACIA)

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