Shares of Acacia Communications, Inc. (NASDAQ:ACIA) reached a new 52-week high on Thursday . The company traded as high as $47.07 and last traded at $44.91, with a volume of 947,256 shares trading hands. The stock had previously closed at $42.89.

A number of analysts recently weighed in on the stock. Deutsche Bank AG reissued a “buy” rating on shares of Acacia Communications in a research note on Wednesday, June 15th. Needham & Company LLC assumed coverage on shares of Acacia Communications in a research note on Tuesday, June 7th. They issued a “buy” rating and a $48.00 target price on the stock. Bank of America Corp. assumed coverage on shares of Acacia Communications in a research note on Tuesday, June 7th. They issued a “buy” rating and a $44.00 target price on the stock. Cowen and Company assumed coverage on shares of Acacia Communications in a research note on Tuesday, June 7th. They issued an “outperform” rating and a $53.00 target price on the stock. Finally, Goldman Sachs Group Inc. started coverage on shares of Acacia Communications in a research note on Tuesday, June 7th. They issued a “neutral” rating and a $39.00 target price on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $46.80.

The stock has a market cap of $314.87 million and a PE ratio of 40.1095. The company’s 50-day moving average price is $37.72 and its 200-day moving average price is $37.46.

In other news, major shareholder Ofs Fitel, Llc sold 95,100 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $21.39, for a total transaction of $2,034,189.00. Following the completion of the sale, the insider now owns 951,212 shares in the company, valued at approximately $20,346,424.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO John F. Gavin sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $21.39, for a total transaction of $160,425.00. Following the sale, the chief financial officer now owns 107,064 shares of the company’s stock, valued at approximately $2,290,098.96. The disclosure for this sale can be found here.

Acacia Communications, Inc is engaged in delivering coherent optical interconnect products. The Company offers its products for communications networks, relied upon by cloud infrastructure operators, and content and communication service providers. Its products include a series of low-power coherent digital signal processor application-specific integrated circuits (DSP ASICs) and silicon photonic integrated circuits (silicon PICs), which it has integrated into families of optical interconnect modules with transmission speeds ranging from 40 to 400 gigabits per second (Gbps) for use in metro and inter-data center markets.

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