Acacia Communications, Inc. (NASDAQ:ACIA) – Analysts at William Blair lowered their Q1 2018 earnings per share estimates for Acacia Communications in a note issued to investors on Tuesday. William Blair analyst D. Netis now forecasts that the technology company will post earnings per share of $0.04 for the quarter, down from their previous forecast of $0.14. William Blair currently has a “Buy” rating on the stock. William Blair also issued estimates for Acacia Communications’ Q4 2018 earnings at $0.30 EPS and FY2018 earnings at $0.75 EPS.
A number of other research firms also recently weighed in on ACIA. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Acacia Communications in a report on Friday, November 3rd. Zacks Investment Research upgraded Acacia Communications from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th. DA Davidson decreased their price objective on Acacia Communications to $48.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Cowen upgraded Acacia Communications to an “outperform” rating and decreased their price objective for the company from $55.00 to $41.00 in a report on Friday, November 3rd. Finally, MKM Partners initiated coverage on Acacia Communications in a report on Tuesday, September 19th. They issued a “buy” rating and a $64.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $50.50.
Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.11. The business had revenue of $105.00 million during the quarter, compared to the consensus estimate of $104.35 million. Acacia Communications had a return on equity of 25.29% and a net margin of 27.98%. Acacia Communications’s quarterly revenue was down 22.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share.
In other Acacia Communications news, insider Benny P. Mikkelsen sold 2,901 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $36.40, for a total transaction of $105,596.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Bhupendra C. Shah sold 8,300 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $47.81, for a total value of $396,823.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,625 shares of company stock valued at $943,778. Company insiders own 37.10% of the company’s stock.
A number of institutional investors have recently modified their holdings of ACIA. Capital Research Global Investors grew its holdings in Acacia Communications by 47.6% during the 2nd quarter. Capital Research Global Investors now owns 3,351,605 shares of the technology company’s stock worth $138,991,000 after acquiring an additional 1,080,126 shares during the period. Amundi Pioneer Asset Management Inc. grew its holdings in Acacia Communications by 847.7% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,052,261 shares of the technology company’s stock worth $49,561,000 after acquiring an additional 941,232 shares during the period. Koch Industries Inc. grew its holdings in Acacia Communications by 9,918.7% during the 2nd quarter. Koch Industries Inc. now owns 522,678 shares of the technology company’s stock worth $510,000 after acquiring an additional 517,461 shares during the period. Oak Ridge Investments LLC acquired a new stake in Acacia Communications during the 3rd quarter worth about $12,992,000. Finally, Eagle Asset Management Inc. acquired a new stake in Acacia Communications during the 3rd quarter worth about $12,512,000. Hedge funds and other institutional investors own 91.48% of the company’s stock.
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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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