$0.63 Earnings Per Share Expected for Acacia Communications, Inc. (NASDAQ:ACIA) This Quarter

Analysts expect that Acacia Communications, Inc. (NASDAQ:ACIA) will announce $0.63 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Acacia Communications’ earnings, with the highest EPS estimate coming in at $0.66 and the lowest estimate coming in at $0.59. Acacia Communications reported earnings of $0.41 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 53.7%. The firm is expected to announce its next earnings report on Thursday, February 20th.

According to Zacks, analysts expect that Acacia Communications will report full-year earnings of $2.01 per share for the current year, with EPS estimates ranging from $1.97 to $2.05. For the next financial year, analysts anticipate that the business will report earnings of $2.33 per share, with EPS estimates ranging from $2.31 to $2.35. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Acacia Communications.

Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.16. The firm had revenue of $119.59 million for the quarter, compared to the consensus estimate of $116.15 million. Acacia Communications had a net margin of 6.58% and a return on equity of 8.57%.

Several equities research analysts have recently issued reports on the stock. ValuEngine lowered shares of Acacia Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research cut Acacia Communications from a “buy” rating to a “hold” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $60.09.

ACIA traded down $0.04 on Tuesday, reaching $68.66. The stock had a trading volume of 522,375 shares, compared to its average volume of 330,237. The business’s 50-day moving average price is $67.57 and its two-hundred day moving average price is $64.90. The company has a market cap of $2.84 billion, a P/E ratio of 99.51, a price-to-earnings-growth ratio of 1.45 and a beta of 1.70. Acacia Communications has a 12-month low of $40.86 and a 12-month high of $68.95. The company has a current ratio of 3.91, a quick ratio of 3.60 and a debt-to-equity ratio of 0.03.

In other Acacia Communications news, VP Francis J. Murphy sold 377 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $66.81, for a total transaction of $25,187.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 1,369 shares of company stock valued at $90,756 in the last three months. Company insiders own 9.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. First Trust Advisors LP increased its position in shares of Acacia Communications by 36.3% during the 3rd quarter. First Trust Advisors LP now owns 29,782 shares of the technology company’s stock valued at $1,948,000 after purchasing an additional 7,925 shares during the last quarter. State Street Corp grew its position in Acacia Communications by 4.5% during the third quarter. State Street Corp now owns 766,264 shares of the technology company’s stock valued at $50,114,000 after acquiring an additional 32,919 shares during the last quarter. California State Teachers Retirement System grew its position in Acacia Communications by 2.4% during the third quarter. California State Teachers Retirement System now owns 59,096 shares of the technology company’s stock valued at $3,865,000 after acquiring an additional 1,389 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in Acacia Communications during the third quarter valued at approximately $2,335,000. Finally, Gabelli Funds LLC purchased a new position in shares of Acacia Communications during the third quarter worth approximately $12,958,000. 78.96% of the stock is owned by institutional investors.

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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