47.31 0.00 (0.00%)
After hours: 4:35PM EDT
|Bid||47.28 x 800|
|Ask||47.29 x 1000|
|Day's Range||47.15 - 48.02|
|52 Week Range||31.42 - 62.18|
|Beta (3Y Monthly)||1.67|
|PE Ratio (TTM)||94.24|
|Earnings Date||Jul 31, 2019 - Aug 5, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||61.54|
MAYNARD, Mass., May 22, 2019 -- Acacia Communications, Inc. (NASDAQ: ACIA), a leading provider of high-speed coherent optical interconnect products, today announced.
said Friday that the U.S. government's blacklisting of China-based telecom Huawei Technologies will have little impact on the company's bottom line. The U.S. Commerce Department added Huawei and dozens of its affiliates to an "Entity List" that would greatly restrict its ability to buy components from U.S. companies. Shares of the Maynard, Massachusetts-based company tumbled 5.8% Thursday and were off slightly to $49.83.
Optical equipment maker Acacia Communications Inc. said Friday that it was "taking steps" to suspend transactions with Huawei Technologies Co. Ltd., following U.S. export control regulations to the China-based company. Acacia said sales to Huawei represented less than 1.5% of total revenue for 2018, and was less than 1% of total first-quarter revenue. The stock fell 5.8% on Thursday after President Trump issued an executive order which banned technology and services from foreign adversaries. "Acacia anticipates that the loss of Huawei sales in the second quarter of 2019 will have a de minimis impact on Acacia's total revenue for the quarter," Acacia said in a statement. The company acknowledged, however, that regulatory actions against Huawei "may have a broader impact on overall conditions in the markets in which Acacia operates." Acacia's stock has rallied 31% year to date, while the Nasdaq Composite has climbed 19% and the S&P 500 has gained 15%.
Acacia is continuing to monitor developments affecting trade regulation and tariffs, including as related to Huawei, to assess potential impacts on Acacia’s future business and financial results. For the fiscal year ended December 31, 2018, sales to Huawei represented less than 1.5% of Acacia’s total revenue, and, for the three-month period ended March 31, 2019, represented less than 1.0% of Acacia’s total revenue. Acacia anticipates that the loss of Huawei sales in the second quarter of 2019 will have a de minimis impact on Acacia’s total revenue for the quarter. Developments or regulatory actions against Huawei may have a broader impact on overall conditions in the markets in which Acacia operates.
Bank of America's bearish stance on Acacia Communications, Inc. (NASDAQ: ACIA ) can no longer be justified as the company faces multiple positive catalysts ahead. The Analyst Bank of America's Tal Liani ...
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Acacia Communications Inc. shares fell 3% in the extended session Thursday after the network technology company swung to a quarterly profit and reported adjusted earnings and sales that topped views. Acacia said it earned $7 million, or 17 cents a share, in the first quarter, versus a loss of 23 cents a share in the year-ago period. Adjusted for one-time items, Acacia earned $15.4 million, or 37 cents a share, in the quarter, compared with 10 cents a share a year ago. Revenue rose 44% to $105.2 million. Analysts polled by FactSet had expected Acacia to report adjusted earnings of 28 cents a share on sales of $101 million. The company guided for revenue between $104 million and $112 million in the second quarter, and adjusted EPS between 28 cents and 42 cents for the quarter. The analysts surveyed by FactSet expect adjusted EPS of 36 cents on sales of $108 million for the quarter.
Acacia Communications first-quarter earnings and revenue beat analyst estimates, while company guidance only met Wall Street targets. Acacia stock fell on the news in late Thursday trades.
MAYNARD, Mass., May 02, 2019 -- Acacia Communications, Inc. (NASDAQ: ACIA), a leading provider of high-speed coherent optical interconnect products, today reported financial.
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Acacia Communications, Inc. (ACIA) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.