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Principale » Acacia Communications, Inc. (ACIA) Releases Q3 Earnings Guidance

Acacia Communications, Inc. (ACIA) Releases Q3 Earnings Guidance

15 Juillet 2017

State Street Corp now owns 206,284 shares of the technology company's stock worth $12,736,000 after buying an additional 133,065 shares in the last quarter.

Shares of Acacia Communications (NASDAQ:ACIA) opened at 39.00 on Friday. Acacia Communications's revenue was up 35.7% on a year-over-year basis.

Acacia Communications, Inc. has a 52-week low of $38.75 and a 52-week high of $128.73.

ACIA has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a buy rating and issued a $65.00 target price (down from $100.00) on shares of Acacia Communications in a research note on Wednesday, May 10th. Acacia Communications now has a consensus rating of Buy and a consensus price target of $65.11. Needham & Company LLC reissued a "buy" rating and issued a $65.00 price target (down from $100.00) on shares of Acacia Communications in a research note on Wednesday, May 10th. The company now has an average rating of "Buy" and an average price target of $65.11. Finally, Morgan Stanley cut shares of Acacia Communications from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $70.00 to $45.00 in a report on Thursday, May 11th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. DA Davidson assumed coverage on Acacia Communications in a research note on Thursday, June 22nd. 3,575,475 shares of the company's stock were exchanged. The company has a market cap of $1.61 billion, a PE ratio of 12.25 and a beta of 3.81.

Company shares last traded at $39.00 just a bit lower than the 50 day moving average of $45.72 and which is just under the 200 day moving average of $54.39. The technology company reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.52 by $0.34.

The Cogeco Communications Inc (CCA) Cut to "Hold" at Desjardins
Yaghi now expects that the company will post earnings of $5.94 per share for the year, down from their previous estimate of $6.16. Cogeco Communications presently has a consensus rating of "Hold" and a consensus target price of C$81.07.

Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings data on Tuesday, May 9th. 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.

Other large investors also recently bought and sold shares of the company. Acacia Communications, Inc. was founded in 2009 and is headquartered in Maynard, Massachusetts. First American Bank bought a new position in Acacia Communications during the first quarter worth about $203,000. As of the latest earnings report the EPS was $3.40 and is expected to be $2.19 for the current year with 38,641,000 shares now outstanding. Finally, Credit Agricole S A purchased a new position in Acacia Communications during the fourth quarter valued at approximately $972,000. 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 previous year, the business earned $0.44 EPS. On average, analysts forecast that Acacia Communications, Inc. will post $2.19 earnings per share for the current fiscal year. FMR LLC increased its position in Acacia Communications by 145.3% in the fourth quarter.

COPYRIGHT VIOLATION WARNING: "Acacia Communications' (NASDAQ:ACIA) "Buy" Rating Reaffirmed at William Blair" was originally posted by Markets Daily and is the sole property of of Markets Daily. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of global copyright & trademark laws. 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 during the last quarter. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

In related news, insider Benny P. Mikkelsen sold 25,842 shares of Acacia Communications stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $47.20, for a total value of $124,608.00. The stock was sold at an average price of $46.54, for a total transaction of $1,202,686.68. Insiders have sold 103,986 shares of company stock valued at $5,046,224 over the last 90 days. Its products include a series of low-power coherent digital signal processors and silicon photonic integrated circuits integrated into families of optical interconnect modules with transmission speeds ranging from 40 to 400 gigabits per second for use in long-haul, metro, and inter-data center markets.