William Blair Weighs in on Acacia Communications, Inc.’s Q2 2018 Earnings (NASDAQ:ACIA)

Acacia Communications, Inc. (NASDAQ:ACIA) – Research analysts at William Blair cut their Q2 2018 EPS estimates for shares of Acacia Communications in a note issued to investors on Tuesday, according to Zacks Investment Research. William Blair analyst D. Netis now forecasts that the technology company will post earnings of $0.13 per share for the quarter, down from their previous forecast of $0.22. William Blair currently has a “Buy” rating on the stock. William Blair also issued estimates for Acacia Communications’ Q3 2018 earnings at $0.28 EPS.

Several other research analysts have also recently commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Acacia Communications in a research report on Monday, October 23rd. AltaCorp Capital raised shares of Acacia Communications from a “neutral” rating to a “buy” rating in a research note on Friday, November 3rd. Zacks Investment Research lowered shares of Acacia Communications from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 8th. Cowen raised shares of Acacia Communications to an “outperform” rating and reduced their price target for the stock from $55.00 to $41.00 in a research note on Friday, November 3rd. Finally, B. Riley raised shares of Acacia Communications from a “neutral” rating to a “buy” rating and upped their price target for the stock from $44.00 to $49.00 in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. Acacia Communications presently has a consensus rating of “Buy” and an average price target of $50.50.

Acacia Communications (NASDAQ ACIA) traded down $0.37 during midday trading on Wednesday, reaching $39.38. 477,381 shares of the company’s stock traded hands, compared to its average volume of 399,853. Acacia Communications has a 1 year low of $35.36 and a 1 year high of $69.97. The company has a market cap of $1,550.67, a PE ratio of 13.58, a price-to-earnings-growth ratio of 2.28 and a beta of 2.21.

Acacia Communications (NASDAQ:ACIA) last posted its earnings results on Thursday, November 2nd. The technology company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.35 by $0.11. Acacia Communications had a net margin of 27.98% and a return on equity of 25.29%. The firm had revenue of $105.00 million during the quarter, compared to analysts’ expectations of $104.35 million. During the same quarter in the prior year, the firm earned $1.01 EPS. Acacia Communications’s quarterly revenue was down 22.4% on a year-over-year basis.

In related news, VP Bhupendra C. Shah sold 8,300 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $47.81, for a total transaction of $396,823.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benny P. Mikkelsen sold 2,901 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $36.40, for a total transaction of $105,596.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,625 shares of company stock valued at $943,778. Company insiders own 37.10% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ACIA. Geode Capital Management LLC lifted its stake in Acacia Communications by 2.1% during the first quarter. Geode Capital Management LLC now owns 107,673 shares of the technology company’s stock valued at $6,311,000 after purchasing an additional 2,184 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Acacia Communications by 25.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 60,429 shares of the technology company’s stock valued at $3,543,000 after purchasing an additional 12,178 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Acacia Communications by 253.7% during the first quarter. Goldman Sachs Group Inc. now owns 25,124 shares of the technology company’s stock valued at $1,473,000 after purchasing an additional 18,021 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in Acacia Communications during the first quarter valued at approximately $234,000. Finally, Russell Investments Group Ltd. lifted its stake in Acacia Communications by 37.0% during the second quarter. Russell Investments Group Ltd. now owns 42,814 shares of the technology company’s stock valued at $1,775,000 after purchasing an additional 11,554 shares during the last quarter. 91.49% of the stock is owned by institutional investors and hedge funds.

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Acacia Communications Company Profile

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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Earnings History and Estimates for Acacia Communications (NASDAQ:ACIA)

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