Traders bought shares of Acacia Communications, Inc. (NASDAQ:ACIA) on weakness during trading hours on Friday. $13.47 million flowed into the stock on the tick-up and $11.58 million flowed out of the stock on the tick-down, for a money net flow of $1.89 million into the stock. Of all companies tracked, Acacia Communications had the 19th highest net in-flow for the day. Acacia Communications traded down ($0.24) for the day and closed at $43.95

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

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

In other news, CFO John F. Gavin sold 7,500 shares of the business’s stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $21.39, for a total value of $160,425.00. Following the completion of the sale, the chief financial officer now directly owns 107,064 shares of the company’s stock, valued at approximately $2,290,098.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Murugesan Shanmugaraj sold 50,000 shares of the business’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 $1,069,500.00. Following the completion of the sale, the chief executive officer now directly owns 922,563 shares of the company’s stock, valued at $19,733,622.57. 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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