$0.36 EPS Expected for Acacia Communications, Inc. (ACIA) This Quarter

Wall Street analysts expect that Acacia Communications, Inc. (NASDAQ:ACIA) will announce $0.36 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Acacia Communications’ earnings, with the highest EPS estimate coming in at $0.41 and the lowest estimate coming in at $0.34. Acacia Communications posted earnings of ($0.08) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 550%. The firm is scheduled to report its next quarterly earnings report on Thursday, August 1st.

According to Zacks, analysts expect that Acacia Communications will report full-year earnings of $1.65 per share for the current financial year, with EPS estimates ranging from $1.57 to $1.75. For the next fiscal year, analysts expect that the company will post earnings of $2.13 per share, with EPS estimates ranging from $1.74 to $2.65. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Acacia Communications.

Acacia Communications (NASDAQ:ACIA) last released its earnings results on Thursday, May 2nd. The technology company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.26. The company had revenue of $105.20 million during the quarter, compared to the consensus estimate of $101.10 million. Acacia Communications had a net margin of 5.63% and a return on equity of 4.96%. The company’s revenue was up 44.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 EPS.

Several research firms have recently weighed in on ACIA. UBS Group boosted their target price on shares of Acacia Communications to $64.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. ValuEngine downgraded shares of Acacia Communications from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 17th. B. Riley downgraded shares of Acacia Communications from a “buy” rating to a “neutral” rating in a research report on Friday, April 26th. Piper Jaffray Companies boosted their price objective on shares of Acacia Communications from $59.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Northland Securities reaffirmed a “buy” rating and set a $65.00 price objective on shares of Acacia Communications in a research report on Sunday, April 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $57.36.

Shares of ACIA traded down $0.27 during midday trading on Friday, hitting $47.15. The company had a trading volume of 656,028 shares, compared to its average volume of 786,062. The company has a market capitalization of $1.92 billion, a P/E ratio of 314.33, a PEG ratio of 2.82 and a beta of 1.88. Acacia Communications has a 52 week low of $31.42 and a 52 week 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.

In other Acacia Communications news, VP Francis J. Murphy sold 514 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $57.80, for a total transaction of $29,709.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Murugesan Shanmugaraj sold 43,000 shares of the business’s 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 200,822 shares of company stock valued at $10,625,360. Insiders own 9.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ACIA. AO Asset Management LP acquired a new position in Acacia Communications during the 1st quarter valued at about $35,265,000. Renaissance Technologies LLC boosted its stake in Acacia Communications by 190.4% during the 1st quarter. Renaissance Technologies LLC now owns 874,500 shares of the technology company’s stock valued at $50,153,000 after purchasing an additional 573,400 shares during the period. Millennium Management LLC boosted its stake in Acacia Communications by 354.2% during the 4th quarter. Millennium Management LLC now owns 639,280 shares of the technology company’s stock valued at $24,293,000 after purchasing an additional 498,540 shares during the period. Goldman Sachs Group Inc. boosted its stake in Acacia Communications by 157.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 678,528 shares of the technology company’s stock valued at $38,914,000 after purchasing an additional 415,367 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Acacia Communications by 19.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,410,234 shares of the technology company’s stock valued at $99,711,000 after purchasing an additional 391,574 shares during the period. 75.69% of the stock is owned by hedge funds and other institutional investors.

Acacia Communications Company Profile

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

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