Brokerages expect Acacia Communications, Inc. (NASDAQ:ACIA) to report sales of $101.38 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Acacia Communications’ earnings, with estimates ranging from $100.00 million to $103.61 million. Acacia Communications posted sales of $72.94 million during the same quarter last year, which indicates a positive year-over-year growth rate of 39%. The business is expected to issue its next earnings results after the market closes on Thursday, May 2nd.

According to Zacks, analysts expect that Acacia Communications will report full year sales of $453.72 million for the current year, with estimates ranging from $440.00 million to $464.00 million. For the next financial year, analysts expect that the company will post sales of $529.44 million, with estimates ranging from $490.00 million to $560.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Acacia Communications.

Acacia Communications (NASDAQ:ACIA) last posted its earnings results on Thursday, February 21st. The technology company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.06. The firm had revenue of $107.10 million for the quarter, compared to the consensus estimate of $102.84 million. Acacia Communications had a net margin of 1.45% and a return on equity of 3.02%. The company’s revenue was up 23.7% on a year-over-year basis. During the same period last year, the firm posted $0.27 EPS.

ACIA has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Acacia Communications from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Thursday, January 3rd. UBS Group set a $51.00 price target on shares of Acacia Communications and gave the stock a “buy” rating in a research note on Wednesday, February 20th. Piper Jaffray Companies upgraded shares of Acacia Communications to an “overweight” rating and set a $59.00 price target for the company in a research note on Friday, February 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Acacia Communications in a research note on Friday, February 22nd. Finally, B. Riley cut shares of Acacia Communications from a “buy” rating to a “neutral” rating and increased their price target for the stock from $45.00 to $50.50 in a research note on Friday, February 22nd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $55.96.

In related news, CEO Murugesan Shanmugaraj sold 4,132 shares of the firm’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $42.34, for a total value of $174,948.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Francis J. Murphy sold 503 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $54.50, for a total transaction of $27,413.50. The disclosure for this sale can be found here. Insiders sold 1,525,284 shares of company stock valued at $80,007,871 in the last quarter. Company insiders own 9.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ACIA. Toth Financial Advisory Corp increased its holdings in Acacia Communications by 3.1% during the 1st quarter. Toth Financial Advisory Corp now owns 14,800 shares of the technology company’s stock valued at $849,000 after acquiring an additional 450 shares in the last quarter. Legal & General Group Plc increased its holdings in Acacia Communications by 6.1% during the 4th quarter. Legal & General Group Plc now owns 10,014 shares of the technology company’s stock valued at $380,000 after acquiring an additional 576 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Acacia Communications by 6.9% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 10,641 shares of the technology company’s stock valued at $404,000 after acquiring an additional 687 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Acacia Communications by 31.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,240 shares of the technology company’s stock valued at $258,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in Acacia Communications by 100.6% during the 4th quarter. Great West Life Assurance Co. Can now owns 3,611 shares of the technology company’s stock valued at $132,000 after acquiring an additional 1,811 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

NASDAQ:ACIA traded up $1.05 during trading hours on Thursday, reaching $59.20. 324,874 shares of the company’s stock were exchanged, compared to its average volume of 756,932. The stock has a market cap of $2.40 billion, a P/E ratio of 394.67, a P/E/G ratio of 3.56 and a beta of 1.77. Acacia Communications has a 1-year low of $27.20 and a 1-year high of $62.18.

Acacia Communications Company Profile

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

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