Brokerages expect Acacia Communications, Inc. (NASDAQ:ACIA) to report $63.75 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Acacia Communications’ earnings, with the lowest sales estimate coming in at $63.00 million and the highest estimate coming in at $66.52 million. Acacia Communications posted sales of $78.90 million in the same quarter last year, which would suggest a negative year over year growth rate of 19.2%. The company is scheduled to report its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that Acacia Communications will report full year sales of $327.05 million for the current year, with estimates ranging from $322.15 million to $331.08 million. For the next year, analysts expect that the company will post sales of $409.37 million per share, with estimates ranging from $388.16 million to $430.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Acacia Communications.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings data on Thursday, August 2nd. The technology company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). Acacia Communications had a positive return on equity of 2.66% and a negative net margin of 4.30%. The business had revenue of $65.00 million for the quarter, compared to analyst estimates of $63.35 million. During the same quarter in the prior year, the company earned $0.26 earnings per share. The company’s revenue was down 17.6% on a year-over-year basis.

Several equities analysts recently commented on the company. Deutsche Bank increased their target price on Acacia Communications to $45.00 and gave the company a “buy” rating in a report on Monday, August 6th. UBS Group set a $48.00 target price on Acacia Communications and gave the company a “buy” rating in a report on Friday, August 3rd. ValuEngine raised Acacia Communications from a “sell” rating to a “hold” rating in a report on Wednesday, June 13th. Piper Jaffray Companies raised Acacia Communications from a “neutral” rating to an “overweight” rating and increased their target price for the company from $38.00 to $46.00 in a report on Thursday, August 23rd. Finally, Loop Capital increased their target price on Acacia Communications to $44.50 and gave the company an “in-line” rating in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $40.18.

NASDAQ:ACIA opened at $40.49 on Monday. The firm has a market capitalization of $1.63 billion, a P/E ratio of 34.03 and a beta of 1.34. Acacia Communications has a 12 month low of $24.72 and a 12 month high of $50.08.

In other news, VP Mehrdad Givehchi sold 2,707 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $39.32, for a total transaction of $106,439.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Murugesan Shanmugaraj sold 2,708 shares of the stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $39.32, for a total transaction of $106,478.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,688 shares of company stock worth $258,998. Corporate insiders own 33.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC boosted its stake in shares of Acacia Communications by 108.0% during the second quarter. FMR LLC now owns 2,692,239 shares of the technology company’s stock worth $93,718,000 after buying an additional 1,398,166 shares during the period. BlackRock Inc. lifted its position in Acacia Communications by 45.7% in the second quarter. BlackRock Inc. now owns 1,774,368 shares of the technology company’s stock valued at $61,767,000 after purchasing an additional 556,674 shares during the period. Amundi Pioneer Asset Management Inc. lifted its position in Acacia Communications by 19.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 1,340,952 shares of the technology company’s stock valued at $51,573,000 after purchasing an additional 215,055 shares during the period. Frontier Capital Management Co. LLC lifted its position in Acacia Communications by 51.3% in the second quarter. Frontier Capital Management Co. LLC now owns 473,419 shares of the technology company’s stock valued at $16,480,000 after purchasing an additional 160,488 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in Acacia Communications by 34.9% in the first quarter. Russell Investments Group Ltd. now owns 311,804 shares of the technology company’s stock valued at $11,992,000 after purchasing an additional 80,655 shares during the period. Institutional investors and hedge funds own 90.84% of the company’s stock.

About Acacia Communications

Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific region. Its products include a series of low-power coherent digital signal processor application-specific integrated circuits and silicon photonic integrated circuits that are integrated into families of optical interconnect modules with transmission speeds ranging from 100 to 400 gigabits per second for use in long-haul, metro, and inter-data center markets.

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

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