Acacia Communications, Inc. (ACIA) Releases Q3 Earnings Guidance
Acacia Communications, Inc. (NASDAQ:ACIA) updated its third quarter earnings guidance on Friday. The company provided earnings per share guidance of $0.25-0.40 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.47. The company issued revenue guidance of $95-110 million, compared to the consensus revenue estimate of $107.98 million.Acacia Communications also updated its Q2 guidance to $0.17-0.20 EPS.
Several equities analysts have recently weighed in on the company. B. Riley restated a neutral rating and issued a $53.50 target price on shares of Acacia Communications in a research report on Monday, May 8th. ValuEngine downgraded Acacia Communications from a buy rating to a hold rating in a research report on Tuesday, July 11th. Deutsche Bank AG set a $60.00 target price on Acacia Communications and gave the company a buy rating in a research report on Wednesday, May 10th. Zacks Investment Research upgraded Acacia Communications from a strong sell rating to a hold rating in a research report on Thursday, June 29th. Finally, Northland Securities restated a buy rating and issued a $50.00 target price on shares of Acacia Communications in a research report on Friday, June 23rd. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $64.83.
Acacia Communications, Inc. (NASDAQ:ACIA) opened at 39.00 on Monday. The company’s 50-day moving average price is $45.72 and its 200-day moving average price is $54.39. Acacia Communications, Inc. has a 12 month low of $38.75 and a 12 month high of $128.73. The stock has a market cap of $1.51 billion, a P/E ratio of 11.48 and a beta of 3.85.
Acacia Communications (NASDAQ:ACIA) last posted its earnings results on Tuesday, May 9th. The technology company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.34. Acacia Communications had a return on equity of 43.80% and a net margin of 30.02%. The firm had revenue of $114.67 million for the quarter, compared to analyst estimates of $112.46 million. During the same quarter in the prior year, the company earned $0.44 EPS. Acacia Communications’s revenue was up 35.7% on a year-over-year basis. Equities analysts forecast that Acacia Communications, Inc. will post $1.97 earnings per share for the current year.
In related news, CEO Murugesan Shanmugaraj sold 8,983 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $48.52, for a total value of $435,855.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John F. Gavin sold 4,634 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $48.54, for a total value of $224,934.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,169 shares of company stock worth $4,074,841.
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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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