Shares of Acacia Communications, Inc. (NASDAQ:ACIA) rose 10.9% during trading on Monday . The stock traded as high as $48.88 and last traded at $48.73, with a volume of 1,165,004 shares changing hands. The stock had previously closed at $43.95.

ACIA has been the topic of several analyst reports. Goldman Sachs Group Inc. initiated coverage on Acacia Communications in a report on Tuesday, June 7th. They issued a “neutral” rating and a $39.00 target price on the stock. Cowen and Company initiated coverage on Acacia Communications in a report on Tuesday, June 7th. They issued an “outperform” rating and a $53.00 target price on the stock. Bank of America Corp. assumed coverage on Acacia Communications in a report on Tuesday, June 7th. They issued a “buy” rating and a $44.00 target price on the stock. Deutsche Bank AG assumed coverage on Acacia Communications in a report on Tuesday, June 7th. They set a “buy” rating and a $50.00 price target on the stock. Finally, 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Acacia Communications has a consensus rating of “Buy” and an average target price of $46.80.

The firm has a market cap of $340.18 million and a PE ratio of 43.33. The stock has a 50-day moving average price of $38.65 and a 200-day moving average price of $37.81.

In related news, Director Eric A. Swanson sold 65,000 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 $1,390,350.00. Following the transaction, the director now directly owns 16,000 shares of the company’s stock, valued at approximately $342,240. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $2,034,189.00. Following the transaction, the insider now directly owns 951,212 shares in the company, valued at $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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