Zacks: Analysts Anticipate Acacia Communications, Inc. (NASDAQ:ACIA) Will Announce Quarterly Sales of $116.15 Million

Analysts forecast that Acacia Communications, Inc. (NASDAQ:ACIA) will announce $116.15 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Acacia Communications’ earnings, with the lowest sales estimate coming in at $115.00 million and the highest estimate coming in at $117.84 million. Acacia Communications posted sales of $94.81 million in the same quarter last year, which suggests a positive year over year growth rate of 22.5%. The firm is scheduled to announce its next earnings results on Thursday, November 7th.

According to Zacks, analysts expect that Acacia Communications will report full year sales of $454.75 million for the current fiscal year, with estimates ranging from $450.20 million to $460.00 million. For the next financial year, analysts expect that the business will report sales of $517.45 million, with estimates ranging from $497.29 million to $540.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Acacia Communications.

Acacia Communications (NASDAQ:ACIA) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Acacia Communications had a net margin of 5.30% and a return on equity of 7.30%. The business had revenue of $111.18 million for the quarter, compared to analysts’ expectations of $108.68 million.

A number of analysts recently issued reports on ACIA shares. ValuEngine lowered shares of Acacia Communications from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Craig Hallum lowered shares of Acacia Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Northland Securities restated a “buy” rating and issued a $65.00 price target on shares of Acacia Communications in a research note on Monday, July 1st. Zacks Investment Research lowered shares of Acacia Communications from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Finally, Rosenblatt Securities restated a “neutral” rating on shares of Acacia Communications in a research note on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. Acacia Communications currently has a consensus rating of “Hold” and an average price target of $58.07.

In other Acacia Communications news, CEO Murugesan Shanmugaraj sold 12,180 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $47.64, for a total transaction of $580,255.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John F. Gavin sold 829 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $64.41, for a total transaction of $53,395.89. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,387 shares of company stock valued at $3,979,599. 9.30% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in Acacia Communications by 747.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 333,394 shares of the technology company’s stock worth $12,669,000 after purchasing an additional 294,068 shares during the period. Legal & General Group Plc increased its holdings in Acacia Communications by 6.1% during the 4th quarter. Legal & General Group Plc now owns 10,014 shares of the technology company’s stock valued at $380,000 after acquiring an additional 576 shares in the last quarter. Norges Bank purchased a new position in Acacia Communications during the 4th quarter valued at about $4,569,000. Deutsche Bank AG increased its holdings in Acacia Communications by 387.9% during the 4th quarter. Deutsche Bank AG now owns 278,378 shares of the technology company’s stock valued at $10,577,000 after acquiring an additional 221,327 shares in the last quarter. Finally, Toth Financial Advisory Corp increased its holdings in Acacia Communications by 3.1% during the 1st quarter. Toth Financial Advisory Corp now owns 14,800 shares of the technology company’s stock valued at $849,000 after acquiring an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Shares of NASDAQ:ACIA traded down $0.51 during midday trading on Friday, reaching $63.97. The company had a trading volume of 428,800 shares, compared to its average volume of 865,792. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.18 and a quick ratio of 3.82. The stock’s fifty day moving average price is $61.34 and its 200-day moving average price is $54.25. The stock has a market capitalization of $2.63 billion, a P/E ratio of 426.47, a PEG ratio of 3.61 and a beta of 1.74. Acacia Communications has a one year low of $32.98 and a one year high of $67.49.

About Acacia Communications

Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the United States, China, Germany, Thailand, and internationally. The company offers embedded and pluggable module products consisting of optical interconnect modules with transmission speeds ranging from 100 to 1,200 gigabits per second for use in long-haul, metro, and inter-data center markets.

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