Acacia Communications, Inc. (NASDAQ:ACIA) – Equities researchers at William Blair cut their Q2 2018 earnings estimates for shares of Acacia Communications in a research note issued to investors on Tuesday. William Blair analyst D. Netis now anticipates that the technology company will post earnings per share of $0.13 for the quarter, down from their prior estimate of $0.22. William Blair currently has a “Buy” rating on the stock. William Blair also issued estimates for Acacia Communications’ Q3 2018 earnings at $0.28 EPS.

Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.11. Acacia Communications had a return on equity of 25.29% and a net margin of 27.98%. The company had revenue of $105.00 million during the quarter, compared to the consensus estimate of $104.35 million. During the same quarter last year, the company earned $1.01 EPS. The company’s quarterly revenue was down 22.4% on a year-over-year basis.

A number of other equities analysts have also recently issued reports on ACIA. B. Riley reissued a “neutral” rating and issued a $44.00 target price on shares of Acacia Communications in a report on Wednesday, August 9th. Zacks Investment Research cut Acacia Communications from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 22nd. MKM Partners started coverage on Acacia Communications in a report on Tuesday, September 19th. They issued a “buy” rating and a $64.00 target price for the company. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Acacia Communications in a report on Monday, October 23rd. Finally, Cowen raised Acacia Communications to an “outperform” rating and dropped their target price for the stock from $55.00 to $41.00 in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $50.50.

Shares of Acacia Communications (ACIA) traded down $0.30 on Wednesday, hitting $40.08. The stock had a trading volume of 176,239 shares, compared to its average volume of 1,045,277. Acacia Communications has a fifty-two week low of $35.36 and a fifty-two week high of $74.75. The firm has a market cap of $1,590.00 and a PE ratio of 13.83.

Hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP acquired a new stake in Acacia Communications during the 3rd quarter valued at $201,000. Pitcairn Co. acquired a new stake in shares of Acacia Communications in the 3rd quarter valued at $216,000. Stifel Financial Corp acquired a new stake in shares of Acacia Communications in the 3rd quarter valued at $218,000. Commonwealth Equity Services Inc acquired a new stake in shares of Acacia Communications in the 3rd quarter valued at $232,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Acacia Communications in the 1st quarter valued at $234,000. 91.48% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO John F. Gavin sold 880 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $36.40, for a total transaction of $32,032.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Bhupendra C. Shah sold 8,300 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $47.81, for a total value of $396,823.00. The disclosure for this sale can be found here. Insiders have sold a total of 22,625 shares of company stock valued at $943,778 over the last ninety days. Insiders own 37.10% of the company’s stock.

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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.

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

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