Acacia Communications, Inc. (NASDAQ:ACIA) Expected to Announce Quarterly Sales of $116.15 Million

Analysts forecast that Acacia Communications, Inc. (NASDAQ:ACIA) will post $116.15 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Acacia Communications’ earnings, with the highest sales estimate coming in at $117.84 million and the lowest estimate coming in at $115.00 million. Acacia Communications posted sales of $94.81 million during the same quarter last year, which suggests a positive year-over-year growth rate of 22.5%. The company is scheduled to announce its next earnings results on Thursday, November 7th.

According to Zacks, analysts expect that Acacia Communications will report full-year sales of $454.75 million for the current financial year, with estimates ranging from $450.20 million to $460.00 million. For the next year, analysts expect that the firm will post sales of $517.45 million, with estimates ranging from $497.29 million to $540.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Acacia Communications.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $111.18 million for the quarter, compared to analysts’ expectations of $108.68 million. Acacia Communications had a return on equity of 7.30% and a net margin of 5.30%.

ACIA has been the topic of several recent analyst reports. B. Riley downgraded Acacia Communications from a “buy” rating to a “neutral” rating in a research note on Friday, April 26th. Citigroup cut Acacia Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, July 16th. Zacks Investment Research cut Acacia Communications from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 9th. Bank of America raised Acacia Communications from an “underperform” rating to a “neutral” rating and set a $56.60 target price on the stock in a report on Monday, May 6th. Finally, Piper Jaffray Companies cut Acacia Communications from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $68.00 to $70.00 in a report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. Acacia Communications presently has an average rating of “Hold” and a consensus price target of $58.07.

ACIA stock traded down $0.44 during trading hours on Friday, hitting $64.48. 140,273 shares of the stock were exchanged, compared to its average volume of 932,729. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.18 and a quick ratio of 3.82. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 429.87, a P/E/G ratio of 3.53 and a beta of 1.74. The firm has a 50-day moving average price of $60.63. Acacia Communications has a 12 month low of $32.98 and a 12 month high of $67.49.

In other news, VP Francis J. Murphy sold 559 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $64.90, for a total transaction of $36,279.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Murugesan Shanmugaraj sold 43,000 shares of the business’s stock in a transaction on 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. Insiders have sold 117,661 shares of company stock worth $5,830,357 over the last three months. Corporate insiders own 9.30% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of Acacia Communications by 747.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 333,394 shares of the technology company’s stock valued at $12,669,000 after buying an additional 294,068 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Acacia Communications by 6.1% during the 4th quarter. Legal & General Group Plc now owns 10,014 shares of the technology company’s stock worth $380,000 after purchasing an additional 576 shares during the last quarter. Norges Bank acquired a new position in shares of Acacia Communications during the 4th quarter worth approximately $4,569,000. Deutsche Bank AG boosted its holdings in shares of Acacia Communications by 387.9% during the 4th quarter. Deutsche Bank AG now owns 278,378 shares of the technology company’s stock worth $10,577,000 after purchasing an additional 221,327 shares during the last quarter. Finally, Toth Financial Advisory Corp boosted its holdings in shares of Acacia Communications by 3.1% during the 1st quarter. Toth Financial Advisory Corp now owns 14,800 shares of the technology company’s stock worth $849,000 after purchasing an additional 450 shares during the last quarter. 74.03% of the stock is currently owned by 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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