Wall Street analysts expect Acacia Communications, Inc. (NASDAQ:ACIA) to post $108.64 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Acacia Communications’ earnings, with the highest sales estimate coming in at $110.00 million and the lowest estimate coming in at $107.14 million. Acacia Communications posted sales of $65.00 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 67.1%. The company is scheduled to report its next 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 year, analysts forecast that the firm will post sales of $529.94 million, with estimates ranging from $489.92 million to $560.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Acacia Communications.
Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.26. Acacia Communications had a return on equity of 4.96% and a net margin of 5.63%. The firm had revenue of $105.20 million for the quarter, compared to analyst estimates of $101.10 million. During the same period last year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 44.3% on a year-over-year basis.
ACIA has been the topic of a number of research analyst reports. Craig Hallum initiated coverage on Acacia Communications in a research note on Monday, March 4th. They issued a “buy” rating on the stock. Morgan Stanley lowered Acacia Communications from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $38.00 to $44.00 in a research note on Wednesday, March 27th. Piper Jaffray Companies raised their price target on Acacia Communications from $59.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. UBS Group raised their price target on Acacia Communications to $64.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, ValuEngine raised Acacia Communications from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $57.36.
NASDAQ:ACIA traded up $0.58 during mid-day trading on Tuesday, reaching $47.16. The company’s stock had a trading volume of 2,684,987 shares, compared to its average volume of 740,530. The stock’s fifty day moving average price is $47.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.65 and a current ratio of 4.93. Acacia Communications has a twelve month low of $31.42 and a twelve month high of $62.18. The company has a market cap of $1.91 billion, a PE ratio of 314.40, a P/E/G ratio of 2.77 and a beta of 1.88.
In related news, CTO Benny P. Mikkelsen sold 5,892 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $52.38, for a total transaction of $308,622.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Francis J. Murphy sold 514 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $57.80, for a total value of $29,709.20. The disclosure for this sale can be found here. Insiders sold a total of 149,411 shares of company stock worth $7,638,953 over the last ninety days. Corporate insiders own 9.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. grew its stake in Acacia Communications by 29.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 506,360 shares of the technology company’s stock worth $29,040,000 after buying an additional 113,995 shares during the last quarter. FMR LLC grew its stake in Acacia Communications by 9.1% during the 1st quarter. FMR LLC now owns 513,183 shares of the technology company’s stock worth $29,431,000 after buying an additional 42,623 shares during the last quarter. Hall Kathryn A. bought a new position in Acacia Communications during the 1st quarter worth $603,000. Marshall Wace North America L.P. bought a new position in Acacia Communications during the 1st quarter worth $2,193,000. Finally, Marshall Wace LLP bought a new position in Acacia Communications during the 1st quarter worth $1,730,000. 75.65% of the stock is currently owned by hedge funds and other institutional investors.
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.
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