Brokerages Expect Acacia Communications, Inc. (ACIA) to Announce -$0.07 Earnings Per Share

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Brokerages expect Acacia Communications, Inc. (NASDAQ:ACIA) to report ($0.07) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Acacia Communications’ earnings. The lowest EPS estimate is ($0.10) and the highest is ($0.03). Acacia Communications posted earnings of $0.26 per share during the same quarter last year, which indicates a negative year over year growth rate of 126.9%. The firm is scheduled to report its next earnings report on Thursday, November 1st.

On average, analysts expect that Acacia Communications will report full-year earnings of $0.50 per share for the current fiscal year, with EPS estimates ranging from $0.42 to $0.57. For the next year, analysts anticipate that the company will report earnings of $1.26 per share, with EPS estimates ranging from $0.89 to $1.65. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Acacia Communications.

Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings data on Thursday, August 2nd. The technology company reported ($0.08) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.08). Acacia Communications had a positive return on equity of 2.66% and a negative net margin of 4.30%. The company had revenue of $65.00 million for the quarter, compared to the consensus estimate of $63.35 million. During the same quarter last year, the business posted $0.26 earnings per share. The firm’s revenue was down 17.6% compared to the same quarter last year.

A number of equities research analysts recently issued reports on the company. Cowen reiterated a “buy” rating and issued a $44.00 price objective on shares of Acacia Communications in a research report on Friday, August 3rd. Rosenblatt Securities set a $46.00 target price on Acacia Communications and gave the company a “buy” rating in a research note on Sunday, August 5th. Deutsche Bank increased their target price on Acacia Communications to $45.00 and gave the company a “buy” rating in a research note on Monday, August 6th. Zacks Investment Research raised Acacia Communications from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Wednesday. Finally, ValuEngine raised Acacia Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, June 13th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $38.75.

Shares of ACIA stock traded up $0.27 on Friday, reaching $38.81. The company’s stock had a trading volume of 637,352 shares, compared to its average volume of 735,220. Acacia Communications has a 12-month low of $24.72 and a 12-month high of $50.10. The company has a market capitalization of $1.56 billion, a PE ratio of 32.61 and a beta of 0.94.

In other Acacia Communications news, CEO Murugesan Shanmugaraj sold 6,706 shares of the business’s stock in a transaction on Monday, May 14th. The shares were sold at an average price of $35.94, for a total value of $241,013.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Benny P. Mikkelsen sold 5,184 shares of the business’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $35.94, for a total transaction of $186,312.96. The disclosure for this sale can be found here. Insiders sold 20,234 shares of company stock worth $725,700 over the last three months. 33.20% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its stake in shares of Acacia Communications by 108.0% in the second quarter. FMR LLC now owns 2,692,239 shares of the technology company’s stock worth $93,718,000 after acquiring an additional 1,398,166 shares during the period. BlackRock Inc. lifted its stake in shares of Acacia Communications by 45.7% in the second quarter. BlackRock Inc. now owns 1,774,368 shares of the technology company’s stock worth $61,767,000 after buying an additional 556,674 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new position in shares of Acacia Communications in the first quarter worth about $12,035,000. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Acacia Communications by 19.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 1,340,952 shares of the technology company’s stock worth $51,573,000 after buying an additional 215,055 shares in the last quarter. Finally, Pier Capital LLC purchased a new position in shares of Acacia Communications in the second quarter worth about $6,817,000. Hedge funds and other institutional investors own 86.69% of the company’s stock.

Acacia Communications Company Profile

Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific region. Its products include a series of low-power coherent digital signal processor application-specific integrated circuits and silicon photonic integrated circuits that are integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per second for use in long-haul, metro, and inter-data center markets.

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