Acacia Communications (NASDAQ:ACIA) issued an update on its first quarter 2019 earnings guidance on Thursday morning. The company provided EPS guidance of $0.18-0.34 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.24. The company issued revenue guidance of $96-104 million, compared to the consensus revenue estimate of $92.6 million.Acacia Communications also updated its Q1 guidance to $0.18-0.34 EPS.

ACIA stock traded up $0.58 during trading hours on Thursday, hitting $47.17. 1,326,112 shares of the stock traded hands, compared to its average volume of 471,949. Acacia Communications has a one year low of $24.72 and a one year high of $48.29. The stock has a market capitalization of $1.83 billion, a P/E ratio of 39.64, a P/E/G ratio of 4.75 and a beta of 1.65.

Several research analysts recently weighed in on ACIA shares. Citigroup raised their target price on Acacia Communications to $60.00 and gave the company a buy rating in a research note on Monday, November 5th. Rosenblatt Securities set a $51.00 target price on Acacia Communications and gave the company a buy rating in a research note on Saturday, November 3rd. ValuEngine raised Acacia Communications from a hold rating to a buy rating in a research note on Friday, November 2nd. UBS Group set a $51.00 target price on Acacia Communications and gave the company a buy rating in a research note on Wednesday. Finally, Zacks Investment Research downgraded Acacia Communications from a buy rating to a hold rating in a report on Wednesday, February 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $45.27.

In other news, VP Bhupendra C. Shah sold 44,626 shares of the company’s stock in a transaction on Wednesday, January 9th. The stock was sold at an average price of $41.35, for a total transaction of $1,845,285.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Murugesan Shanmugaraj sold 4,132 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $42.34, for a total value of $174,948.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,831 shares of company stock valued at $2,621,230. 33.20% of the stock is currently owned by company insiders.

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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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