Zacks: Brokerages Expect Acacia Communications (ACIA) Will Announce Earnings of $0.06 Per Share

Equities research analysts expect Acacia Communications (NASDAQ:ACIA) to post earnings of $0.06 per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Acacia Communications’ earnings, with the highest EPS estimate coming in at $0.13 and the lowest estimate coming in at $0.04. Acacia Communications reported earnings per share of $0.77 in the same quarter last year, which suggests a negative year over year growth rate of 92.2%. The company is scheduled to report its next earnings results on Tuesday, May 8th.

According to Zacks, analysts expect that Acacia Communications will report full-year earnings of $0.88 per share for the current fiscal year, with EPS estimates ranging from $0.55 to $1.30. For the next year, analysts anticipate that the company will report earnings of $1.63 per share, with EPS estimates ranging from $1.19 to $2.35. Zacks’ EPS averages are an average based on a survey of research analysts that follow Acacia Communications.

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Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. The business had revenue of $86.60 million for the quarter, compared to analyst estimates of $88.41 million. Acacia Communications had a net margin of 10.00% and a return on equity of 12.40%. The company’s quarterly revenue was down 39.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.94 earnings per share.

Several equities analysts recently issued reports on the stock. Piper Jaffray assumed coverage on shares of Acacia Communications in a research note on Tuesday, February 13th. They set an “overweight” rating and a $43.00 price objective on the stock. Northland Securities set a $42.00 price objective on shares of Acacia Communications and gave the company a “buy” rating in a research note on Monday, January 29th. Loop Capital assumed coverage on shares of Acacia Communications in a research note on Monday, January 29th. They set a “buy” rating and a $50.00 price objective on the stock. DA Davidson downgraded shares of Acacia Communications from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $48.00 to $38.00 in a research note on Friday, February 23rd. Finally, Morgan Stanley set a $37.00 price objective on shares of Acacia Communications and gave the company a “hold” rating in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $46.82.

In other Acacia Communications news, VP Christian J. Rasmussen sold 32,000 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $35.05, for a total transaction of $1,121,600.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Mehrdad Givehchi sold 21,060 shares of the stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $37.48, for a total transaction of $789,328.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 148,470 shares of company stock worth $5,789,972. 37.10% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC acquired a new stake in shares of Acacia Communications in the fourth quarter worth $321,000. Element Capital Management LLC acquired a new stake in shares of Acacia Communications in the fourth quarter worth $3,571,000. Stone Ridge Asset Management LLC acquired a new stake in shares of Acacia Communications in the fourth quarter worth $239,000. Guggenheim Capital LLC increased its position in shares of Acacia Communications by 6.4% in the fourth quarter. Guggenheim Capital LLC now owns 26,818 shares of the technology company’s stock worth $973,000 after acquiring an additional 1,622 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Acacia Communications by 11.9% in the fourth quarter. Deutsche Bank AG now owns 145,797 shares of the technology company’s stock worth $5,281,000 after acquiring an additional 15,546 shares in the last quarter. 62.41% of the stock is owned by institutional investors.

Shares of ACIA opened at $35.89 on Friday. The company has a market cap of $1,437.87, a P/E ratio of 24.42, a PEG ratio of 6.25 and a beta of 0.88. Acacia Communications has a 1 year low of $33.68 and a 1 year high of $57.78.

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About Acacia Communications

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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