Acacia Communications, Inc. (NASDAQ:ACIA) – Stock analysts at William Blair lowered their Q2 2017 earnings per share (EPS) estimates for Acacia Communications in a report released on Monday. William Blair analyst D. Netis now expects that the technology company will earn $0.43 per share for the quarter, down from their previous estimate of $0.58. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Acacia Communications’ Q3 2017 earnings at $0.58 EPS, Q4 2017 earnings at $0.69 EPS, FY2017 earnings at $2.15 EPS, Q1 2018 earnings at $0.45 EPS, Q2 2018 earnings at $0.62 EPS, Q4 2018 earnings at $0.73 EPS and FY2018 earnings at $2.53 EPS.
ACIA has been the topic of a number of other reports. Morgan Stanley raised Acacia Communications from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $54.99 to $80.00 in a research note on Thursday, February 2nd. They noted that the move was a valuation call. Zacks Investment Research cut Acacia Communications from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 price objective on shares of Acacia Communications in a research note on Wednesday, January 11th. Cowen and Company reissued an “outperform” rating and issued a $115.00 target price on shares of Acacia Communications in a research note on Wednesday, February 22nd. Finally, B. Riley reissued a “neutral” rating and issued a $53.50 target price on shares of Acacia Communications in a research note on Monday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $83.69.
Shares of Acacia Communications (NASDAQ:ACIA) opened at 48.41 on Wednesday. The company’s 50-day moving average price is $53.23 and its 200-day moving average price is $61.45. Acacia Communications has a 12 month low of $27.05 and a 12 month high of $128.73. The company has a market cap of $1.86 billion and a price-to-earnings ratio of 15.03.
Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings data on Tuesday, May 9th. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.11. The business had revenue of $114.67 million for the quarter, compared to analyst estimates of $112.46 million. Acacia Communications had a return on equity of 69.87% and a net margin of 22.18%. Acacia Communications’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.
In other news, VP Mehrdad Givehchi sold 25,830 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $46.54, for a total transaction of $1,202,128.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Benny P. Mikkelsen sold 25,842 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $59.16, for a total transaction of $1,528,812.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,660 shares of company stock worth $6,594,690.
Several hedge funds have recently made changes to their positions in the stock. Winfield Associates Inc. boosted its stake in shares of Acacia Communications by 115.0% in the third quarter. Winfield Associates Inc. now owns 2,150 shares of the technology company’s stock valued at $222,000 after buying an additional 1,150 shares in the last quarter. Dumont & Blake Investment Advisors LLC boosted its stake in shares of Acacia Communications by 38.9% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 5,000 shares of the technology company’s stock valued at $293,000 after buying an additional 1,400 shares in the last quarter. Fortaleza Asset Management Inc. acquired a new stake in shares of Acacia Communications during the fourth quarter valued at about $116,000. Dynamic Technology Lab Private Ltd boosted its stake in shares of Acacia Communications by 81.5% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 4,373 shares of the technology company’s stock valued at $270,000 after buying an additional 1,963 shares in the last quarter. Finally, FNY Partners Fund LP acquired a new stake in shares of Acacia Communications during the fourth quarter valued at about $124,000. Hedge funds and other institutional investors own 66.39% of the company’s stock.
Acacia Communications Company Profile
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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