Acacia Communications, Inc. (NASDAQ:ACIA) updated its second quarter earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $0.17-0.20 for the period, compared to the Thomson Reuters consensus estimate of $0.31. The company issued revenue guidance of $77-79 million, compared to the consensus revenue estimate of $91.29 million.Acacia Communications also updated its Q3 guidance to $0.25-0.40 EPS.
Several analysts recently commented on the company. B. Riley assumed coverage on Acacia Communications in a research note on Tuesday, April 4th. They set a neutral rating and a $60.00 price objective on the stock. Needham & Company LLC reaffirmed a buy rating and set a $65.00 price objective (down previously from $100.00) on shares of Acacia Communications in a research note on Wednesday, May 10th. Cowen and Company dropped their price objective on Acacia Communications from $75.00 to $66.00 and set an outperform rating on the stock in a research note on Wednesday, May 10th. Zacks Investment Research raised Acacia Communications from a hold rating to a strong-buy rating and set a $62.00 price objective on the stock in a research note on Wednesday, April 26th. Finally, William Blair reaffirmed an outperform rating on shares of Acacia Communications in a research note on Monday, May 8th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $62.17.
Shares of Acacia Communications, Inc. (NASDAQ:ACIA) opened at 39.99 on Tuesday. The firm has a 50 day moving average price of $45.72 and a 200 day moving average price of $54.39. The firm has a market cap of $1.55 billion, a P/E ratio of 11.77 and a beta of 3.85. Acacia Communications, Inc. has a 1-year low of $38.50 and a 1-year high of $128.73.
Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings data on Tuesday, May 9th. The technology company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.34. Acacia Communications had a net margin of 30.02% and a return on equity of 43.80%. 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 business earned $0.44 earnings per share. The business’s quarterly revenue was up 35.7% compared to the same quarter last year. Analysts anticipate that Acacia Communications, Inc. will post $1.85 EPS for the current year.
In related news, CEO Murugesan Shanmugaraj sold 8,983 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were 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 available at this link. Also, insider Benny P. Mikkelsen sold 25,842 shares of the company’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $46.54, for a total transaction of $1,202,686.68. The disclosure for this sale can be found here. Insiders sold a total of 86,169 shares of company stock worth $4,074,841 in the last 90 days.
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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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