Acacia ACIA Beats by 52%, First Quarter Since June 2017
Acacia Communications (ACIA), the maker of high-speed optical communications devices reported adjusted earnings of 41 cents, an increase of 52%, while revenue rose to $107.1 million, an increase of 24%. By contrast, Acacia earnings were 27 cents a share on sales of $86.6 million last year.
Consensus estimates for Acacia averaged 35 cents on sales of $102.9 million for the period (Dec. 31).
Going forward, Acacia projects 27 cents and revenue of $100 million compared to that of analyst estimates of 24 cents on revenue of $92.6 million.
Acacia Communications, Inc. (ACIA) develops, manufactures, and sells high-speed coherent optical interconnect products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific region.
With the stock trading higher in the pre-market session, the stock is gearing up for a follow-through day. RS Line is rising (note the blue dot). Volume is increasing after a 4-month base. The base projects a measured move of 10 (+/-) points.
The weekly chart shows recent quarters with negative growth, in addition to a broken downtrend. The right side of a larger pattern is developing, signaling accumulation and “markup” of its shares. Also note sales and earnings growth in the left panel, adjusted higher as growth returns to this key metric.
Investors Business Daily ranks Acacia number 3, lead by number one ranked Ciena Corporation (CIEN). If volume continues to surge, it would suggest institutional interest is returning. And, considering Ciena’s bullish trend, it would suggest that these makers of optical communications devices should see their shares continue higher in the coming months.
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