=Acacia (ACIA) : U.S. bans component sales to China's ZTE

Shares in optical device makers plunged Monday after the U.S. Commerce Department banned domestic firms from selling components to Chinese telecom gear maker ZTE following a probe into illegally shipped equipment to Iran and North Korea.
"ZTE made false statements to the U.S. government when they were originally caught and put on the Entity List, made false statements during the reprieve it was given, and made false statements again during its probation," Secretary of Commerce Wilbur Ross said in a statement.

• NeoPhotonics, Oclaro, Acacia, Lumentum, and Finisar sell the most optical components to China, says a UBS report.

Shares of Acacia Communications Inc. ACIA, -33.37% plunged 23% in Monday morning trading after the U.S. banned American companies from selling components to China-based ZTE Corp. ZTE pleaded guilty to conspiring to violate U.S. sanctions by shipping goods to Iran, according to Reuters, which reported on the ban this morning. ZTE accounted for 30% of Acacia's revenue in 2017, according to the company's most recent annual filing.

• Leading optical stocks lower : ACIA -18.84% LITE -9.02% IPHI -10.35% OCLR -6.58% AAOI -5.37% FNSR -4.91% NPTN -3.09% FN -2.75% COHR -0.94% IIVI -0.69% CIEN -0.43%