Acacia Communications (ACIA) reported quarterly earnings results on Thursday, Aug-11-2016. The company said it had a profit of $0.77 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.47. Analysts had a consensus of $0.30. The company posted revenue of $116.20 million in the period, compared to analysts expectations of $85.78 million. The company’s revenue was up 101.0% compared to the same quarter last year.
Many Wall Street Analysts have commented on Acacia Communications. Company shares were Reiterated by Needham on Jul 25, 2016 to “Buy”, Firm has raised the Price Target to $ 65 from a previous price target of $48 .Company shares were Reiterated by Deutsche Bank on Jul 14, 2016 to “Buy”, Firm has raised the Price Target to $ 60 from a previous price target of $50 .Acacia Communications was Initiated by Goldman to “Neutral” on Jun 7, 2016.
In a different news, on May 20, 2016, Murugesan Shanmugaraj (President & CEO) sold 50,000 shares at $21.39 per share price. According to the SEC, on May 20, 2016, Eric A Swanson (director) sold 65,000 shares at $21.39 per share price. On May 20, 2016, Christian J. Rasmussen (VP Digital Signal Proc&Optics) sold 103,772 shares at $21.39 per share price, according to the Form-4 filing with the securities and exchange commission.