Acacia Communications (ACIA) Expected to Post Quarterly Sales of $63.63 Million

Analysts expect that Acacia Communications (NASDAQ:ACIA) will report sales of $63.63 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Acacia Communications’ earnings. The lowest sales estimate is $63.00 million and the highest is $66.52 million. Acacia Communications posted sales of $78.90 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 19.4%. The company is scheduled to report its next quarterly earnings report on Thursday, August 2nd.

On average, analysts expect that Acacia Communications will report full year sales of $284.12 million for the current financial year, with estimates ranging from $274.00 million to $301.17 million. For the next year, analysts forecast that the company will post sales of $331.26 million per share, with estimates ranging from $300.00 million to $370.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Acacia Communications.

Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings data on Thursday, May 3rd. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.04. The firm had revenue of $72.90 million during the quarter, compared to analysts’ expectations of $71.23 million. Acacia Communications had a negative net margin of 1.83% and a positive return on equity of 4.95%. Acacia Communications’s revenue for the quarter was down 36.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share.

A number of research analysts have weighed in on the stock. Cowen reissued an “outperform” rating and set a $32.00 target price (down previously from $45.00) on shares of Acacia Communications in a research report on Friday, May 4th. DA Davidson set a $30.00 target price on shares of Acacia Communications and gave the stock a “hold” rating in a research report on Friday, May 4th. Morgan Stanley reissued an “equal weight” rating on shares of Acacia Communications in a research report on Sunday, April 29th. ValuEngine lowered shares of Acacia Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, Northland Securities cut their target price on shares of Acacia Communications from $50.00 to $35.00 and set an “outperform” rating for the company in a research report on Tuesday, April 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $33.45.

Acacia Communications stock traded down $0.78 on Friday, reaching $32.55. 1,081,691 shares of the stock were exchanged, compared to its average volume of 894,360. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 27.35 and a beta of 1.11. Acacia Communications has a twelve month low of $31.93 and a twelve month high of $33.32.

In other news, CFO John F. Gavin sold 3,712 shares of the company’s stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $35.94, for a total transaction of $133,409.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Murugesan Shanmugaraj sold 23,225 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $43.60, for a total transaction of $1,012,610.00. The disclosure for this sale can be found here. Insiders have sold 123,892 shares of company stock valued at $4,902,490 in the last ninety days. 33.20% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in ACIA. First Mercantile Trust Co. acquired a new position in shares of Acacia Communications during the first quarter valued at about $192,000. Quantitative Systematic Strategies LLC bought a new stake in Acacia Communications in the fourth quarter valued at about $201,000. Teacher Retirement System of Texas bought a new stake in Acacia Communications in the fourth quarter valued at about $219,000. Stone Ridge Asset Management LLC bought a new stake in Acacia Communications in the fourth quarter valued at about $239,000. Finally, Pitcairn Co. increased its stake in Acacia Communications by 61.8% in the fourth quarter. Pitcairn Co. now owns 7,430 shares of the technology company’s stock valued at $269,000 after acquiring an additional 2,839 shares during the period. 85.09% of the stock is owned by institutional investors and hedge funds.

About Acacia Communications

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

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