Acacia Communications, Inc. (NASDAQ:ACIA) dropped 0.5% during mid-day trading on Friday . The company traded as low as $43.58 and last traded at $43.95, with a volume of 887,078 shares traded. The stock had previously closed at $44.19.

ACIA has been the subject of a number of research analyst reports. Deutsche Bank AG restated a “buy” rating on shares of Acacia Communications in a report on Wednesday, June 15th. Needham & Company LLC initiated coverage on Acacia Communications in a report on Tuesday, June 7th. They set a “buy” rating and a $48.00 price objective for the company. Bank of America Corp. initiated coverage on Acacia Communications in a report on Tuesday, June 7th. They set a “buy” rating and a $44.00 price objective for the company. Goldman Sachs Group Inc. initiated coverage on Acacia Communications in a report on Tuesday, June 7th. They set a “neutral” rating and a $39.00 price objective for the company. Finally, Cowen and Company initiated coverage on Acacia Communications in a report on Tuesday, June 7th. They set an “outperform” rating and a $53.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $46.80.

The firm’s 50 day moving average price is $38.65 and its 200-day moving average price is $37.81. The firm has a market capitalization of $306.68 million and a P/E ratio of 39.07.

In related news, CFO John F. Gavin sold 7,500 shares of the company’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $21.39, for a total value of $160,425.00. Following the sale, the chief financial officer now owns 107,064 shares in the company, valued at approximately $2,290,098.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mehrdad Givehchi sold 103,772 shares of the company’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 $2,219,683.08. Following the completion of the sale, the vice president now owns 613,334 shares in the company, valued at approximately $13,119,214.26. 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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