Acacia Communications, Inc. (NASDAQ:ACIA) Expected to Announce Earnings of $0.40 Per Share

Brokerages expect Acacia Communications, Inc. (NASDAQ:ACIA) to announce earnings of $0.40 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Acacia Communications’ earnings, with the highest EPS estimate coming in at $0.52 and the lowest estimate coming in at $0.28. Acacia Communications reported earnings of $0.37 per share in the same quarter last year, which would indicate a positive year over year growth rate of 8.1%. The business is scheduled to issue its next quarterly earnings report on Thursday, May 7th.

On average, analysts expect that Acacia Communications will report full-year earnings of $2.03 per share for the current fiscal year, with EPS estimates ranging from $1.74 to $2.31. For the next year, analysts anticipate that the business will report earnings of $2.27 per share. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow Acacia Communications.

Acacia Communications (NASDAQ:ACIA) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.08). The business had revenue of $128.67 million for the quarter, compared to the consensus estimate of $126.71 million. Acacia Communications had a return on equity of 8.59% and a net margin of 7.07%.

Several research firms have recently commented on ACIA. Zacks Investment Research downgraded shares of Acacia Communications from a “hold” rating to a “strong sell” rating in a research report on Monday, February 24th. ValuEngine raised shares of Acacia Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Finally, BidaskClub downgraded shares of Acacia Communications from a “buy” rating to a “hold” rating in a research report on Friday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. Acacia Communications currently has a consensus rating of “Hold” and a consensus price target of $67.09.

In related news, CEO Murugesan Shanmugaraj sold 4,147 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $62.45, for a total transaction of $258,980.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO John F. Gavin sold 2,592 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $62.45, for a total transaction of $161,870.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,538 shares of company stock worth $597,419. 9.30% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in ACIA. Carroll Financial Associates Inc. purchased a new position in Acacia Communications during the fourth quarter worth about $39,000. Ancora Advisors LLC purchased a new position in Acacia Communications during the fourth quarter worth about $68,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Acacia Communications by 49.0% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,241 shares of the technology company’s stock worth $84,000 after purchasing an additional 408 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in Acacia Communications during the fourth quarter worth about $145,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Acacia Communications during the fourth quarter worth about $183,000. Institutional investors and hedge funds own 81.30% of the company’s stock.

Shares of NASDAQ:ACIA traded down $0.09 during midday trading on Monday, hitting $67.41. 592,454 shares of the company’s stock were exchanged, compared to its average volume of 947,402. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.26 and a quick ratio of 3.90. The stock has a 50 day moving average price of $67.18 and a 200-day moving average price of $66.69. The company has a market cap of $2.81 billion, a PE ratio of 87.55, a price-to-earnings-growth ratio of 1.97 and a beta of 1.48. Acacia Communications has a 12 month low of $44.38 and a 12 month high of $69.00.

Acacia Communications Company Profile

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.

Recommended Story: What is the return on assets formula?

Get a free copy of the Zacks research report on Acacia Communications (ACIA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Acacia Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acacia Communications and related companies with MarketBeat.com's FREE daily email newsletter.