Brokers Set Expectations for Acacia Communications, Inc.’s FY2020 Earnings (NASDAQ:ACIA)


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Acacia Communications, Inc. (NASDAQ:ACIA) – Equities research analysts at B. Riley boosted their FY2020 earnings per share estimates for shares of Acacia Communications in a report released on Tuesday, January 12th. B. Riley analyst D. Kang now forecasts that the technology company will earn $2.13 per share for the year, up from their previous estimate of $2.01. B. Riley also issued estimates for Acacia Communications’ Q4 2020 earnings at $0.71 EPS.

Several other research firms also recently issued reports on ACIA. BidaskClub upgraded Acacia Communications from a “sell” rating to a “hold” rating in a report on Wednesday, December 30th. Needham & Company LLC restated a “hold” rating on shares of Acacia Communications in a report on Monday. Northland Securities lifted their price objective on Acacia Communications from $65.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday. Zacks Investment Research downgraded Acacia Communications from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, Craig Hallum upgraded Acacia Communications from a “hold” rating to a “buy” rating in a report on Friday, January 8th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Acacia Communications currently has a consensus rating of “Hold” and an average price target of $92.33.

Shares of NASDAQ:ACIA opened at $86.45 on Wednesday. The company has a market cap of $3.64 billion, a P/E ratio of 54.37 and a beta of 0.78. Acacia Communications has a one year low of $60.62 and a one year high of $86.98. The business’s 50-day simple moving average is $72.32 and its 200 day simple moving average is $68.99.

Acacia Communications (NASDAQ:ACIA) last announced its earnings results on Saturday, November 14th. The technology company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.58 by $0.20. The business had revenue of $158.46 million for the quarter, compared to the consensus estimate of $143.28 million. Acacia Communications had a return on equity of 11.85% and a net margin of 12.56%.

Several institutional investors and hedge funds have recently bought and sold shares of ACIA. Jeppson Wealth Management LLC bought a new stake in shares of Acacia Communications in the 3rd quarter worth $34,000. Nisa Investment Advisors LLC raised its stake in shares of Acacia Communications by 257.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,180 shares of the technology company’s stock worth $80,000 after buying an additional 850 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Acacia Communications by 5.2% in the 2nd quarter. Prudential Financial Inc. now owns 3,351 shares of the technology company’s stock worth $225,000 after buying an additional 165 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Acacia Communications by 1,114.0% in the 2nd quarter. Bank of Montreal Can now owns 3,387 shares of the technology company’s stock worth $230,000 after buying an additional 3,108 shares in the last quarter. Finally, Gyon Technologies Capital Management LP bought a new stake in shares of Acacia Communications in the 3rd quarter worth $242,000. 85.55% of the stock is currently owned by institutional investors.

About Acacia Communications

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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