Acacia Communications, Inc. (ACIA) Expected to Announce Quarterly Sales of $108.64 Million

Share on StockTwits

Equities research analysts expect Acacia Communications, Inc. (NASDAQ:ACIA) to report sales of $108.64 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Acacia Communications’ earnings. The lowest sales estimate is $107.14 million and the highest is $110.00 million. Acacia Communications posted sales of $65.00 million during the same quarter last year, which suggests a positive year over year growth rate of 67.1%. The company is expected to issue its next quarterly earnings report on Thursday, August 1st.

On average, analysts expect that Acacia Communications will report full-year sales of $455.66 million for the current year, with estimates ranging from $450.10 million to $469.20 million. For the next financial year, analysts anticipate that the firm will post sales of $530.43 million, with estimates ranging from $489.92 million to $560.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Acacia Communications.

Acacia Communications (NASDAQ:ACIA) last issued its earnings results on Thursday, May 2nd. The technology company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.11 by $0.26. The company had revenue of $105.20 million during the quarter, compared to analysts’ expectations of $101.10 million. Acacia Communications had a net margin of 5.63% and a return on equity of 4.96%. The business’s revenue for the quarter was up 44.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Several analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Acacia Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. UBS Group set a $51.00 target price on shares of Acacia Communications and gave the company a “buy” rating in a research note on Wednesday, February 20th. Piper Jaffray Companies raised shares of Acacia Communications to an “overweight” rating and set a $59.00 target price for the company in a research note on Friday, February 22nd. Needham & Company LLC reissued a “hold” rating on shares of Acacia Communications in a research note on Friday, February 22nd. Finally, B. Riley lowered shares of Acacia Communications from a “buy” rating to a “neutral” rating and boosted their target price for the company from $45.00 to $50.50 in a research note on Friday, February 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $57.36.

In other Acacia Communications news, Director Peter Y. Chung sold 1,300,127 shares of the business’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $52.25, for a total value of $67,931,635.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Bhupendra C. Shah sold 1,100 shares of the business’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $43.38, for a total transaction of $47,718.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,514,202 shares of company stock valued at $79,539,201. 9.30% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Patriot Financial Group Insurance Agency LLC acquired a new position in Acacia Communications in the 1st quarter valued at $39,000. Acadian Asset Management LLC bought a new stake in shares of Acacia Communications in the 1st quarter valued at $81,000. State of Tennessee Treasury Department bought a new stake in shares of Acacia Communications in the 1st quarter valued at $107,000. Penserra Capital Management LLC bought a new stake in shares of Acacia Communications in the 1st quarter valued at $126,000. Finally, Great West Life Assurance Co. Can increased its position in shares of Acacia Communications by 100.6% in the 4th quarter. Great West Life Assurance Co. Can now owns 3,611 shares of the technology company’s stock valued at $132,000 after buying an additional 1,811 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Shares of Acacia Communications stock traded down $0.05 on Friday, hitting $52.94. 23,012 shares of the company’s stock traded hands, compared to its average volume of 732,461. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 354.00, a PEG ratio of 3.03 and a beta of 1.71. Acacia Communications has a one year low of $31.42 and a one year high of $62.18. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.65 and a current ratio of 4.93.

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.

Featured Article: Quick Ratio

Get a free copy of the Zacks research report on Acacia Communications (ACIA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Acacia Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acacia Communications and related companies with MarketBeat.com's FREE daily email newsletter.