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

A number of research analysts have recently weighed in on the company. Deutsche Bank AG reiterated a “buy” rating on shares of Acacia Communications in a report on Wednesday, June 15th. Needham & Company LLC assumed coverage on Acacia Communications in a report on Tuesday, June 7th. They set a “buy” rating and a $48.00 price target on the stock. Bank of America Corp. began coverage on Acacia Communications in a report on Tuesday, June 7th. They set a “buy” rating and a $44.00 price target on the stock. Cowen and Company began coverage on 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. began coverage on 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 analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $46.80.

The stock has a market cap of $306.68 million and a PE ratio of 39.07. The company’s 50-day moving average price is $38.65 and its 200 day moving average price is $37.81.

In other news, VP Mehrdad Givehchi sold 103,772 shares of the stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $21.39, for a total value of $2,219,683.08. Following the transaction, the vice president now owns 613,334 shares of the company’s stock, valued at approximately $13,119,214.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Ofs Fitel, Llc sold 95,100 shares of the stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $21.39, for a total value of $2,034,189.00. Following the completion of the transaction, the insider now directly owns 951,212 shares in the company, valued at approximately $20,346,424.68. 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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