Acacia Communications, Inc. (NASDAQ:ACIA) updated its third quarter earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $0.25-0.40 for the period, compared to the Thomson Reuters consensus estimate of $0.47. The company issued revenue guidance of $95-110 million, compared to the consensus revenue estimate of $107.98 million.Acacia Communications also updated its Q2 guidance to $0.17-0.20 EPS.
A number of brokerages recently issued reports on ACIA. Cowen and Company reiterated a buy rating and issued a $55.00 price objective on shares of Acacia Communications in a report on Friday. Needham & Company LLC reiterated a buy rating on shares of Acacia Communications in a report on Friday. B. Riley reiterated a neutral rating and issued a $44.00 price objective on shares of Acacia Communications in a report on Friday. Northland Securities set a $50.00 price objective on shares of Acacia Communications and gave the company a buy rating in a report on Saturday, July 22nd. Finally, William Blair reiterated an outperform rating on shares of Acacia Communications in a report on Monday, July 17th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Acacia Communications presently has a consensus rating of Buy and an average price target of $61.89.
Acacia Communications, Inc. (ACIA) traded up 2.18% on Tuesday, reaching $47.88. 825,963 shares of the company’s stock traded hands. Acacia Communications, Inc. has a 12 month low of $38.50 and a 12 month high of $128.73. The firm has a market cap of $1.85 billion, a PE ratio of 14.09 and a beta of 3.79. The firm’s 50-day moving average is $42.72 and its 200 day moving average is $50.72.
Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.08. Acacia Communications had a return on equity of 34.46% and a net margin of 29.65%. The firm had revenue of $78.90 million during the quarter, compared to analyst estimates of $78.17 million. During the same period last year, the company earned $0.77 EPS. Acacia Communications’s quarterly revenue was down 32.0% compared to the same quarter last year. Equities analysts predict that Acacia Communications, Inc. will post $1.88 EPS for the current year.
In other Acacia Communications news, CTO Benny P. Mikkelsen sold 7,475 shares of Acacia Communications stock in a transaction on Monday, May 15th. The stock was sold at an average price of $48.52, for a total transaction of $362,687.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Murugesan Shanmugaraj sold 8,983 shares of Acacia Communications stock in a transaction on Monday, May 15th. The shares were sold at an average price of $48.52, for a total value of $435,855.16. The disclosure for this sale can be found here. Insiders have sold a total of 31,867 shares of company stock valued at $1,542,077 over the last three months.
About Acacia Communications
Acacia Communications, Inc provides high-speed coherent interconnect products. The Company’s products include a series of low-power coherent digital signal processor application-specific integrated circuits (DSP ASICs), and silicon photonic integrated circuits (silicon PICs), which it has integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per second (Gbps) for use in long-haul, metro and inter-data center markets.
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