Acacia Communications, Inc. (NASDAQ:ACIA) saw unusually-strong trading volume on Tuesday . Approximately 863,166 shares traded hands during trading, a decline of 1% from the previous session’s volume of 869,338 shares.The stock last traded at $50.96 and had previously closed at $48.87.

Several equities analysts recently weighed in on ACIA shares. Goldman Sachs Group Inc. started coverage on Acacia Communications in a research report on Tuesday, June 7th. They set a “neutral” rating and a $39.00 target price on the stock. Cowen and Company started coverage on Acacia Communications in a research report on Tuesday, June 7th. They set an “outperform” rating and a $53.00 target price on the stock. Bank of America Corp. started coverage on Acacia Communications in a research report on Tuesday, June 7th. They set a “buy” rating and a $44.00 target price on the stock. Deutsche Bank AG assumed coverage on Acacia Communications in a research report on Tuesday, June 7th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Needham & Company LLC assumed coverage on Acacia Communications in a report on Tuesday, June 7th. They issued a “buy” rating and a $48.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Acacia Communications has a consensus rating of “Buy” and an average target price of $46.80.

The stock has a market cap of $358.39 million and a P/E ratio of 45.65. The company has a 50-day moving average price of $39.78 and a 200-day moving average price of $38.44.

In other news, CEO Murugesan Shanmugaraj sold 50,000 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 value of $1,069,500.00. Following the completion of the transaction, the chief executive officer now owns 922,563 shares in the company, valued at approximately $19,733,622.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John F. Gavin sold 7,500 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 $160,425.00. Following the completion of the transaction, 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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