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

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

The stock has a market capitalization of $358.39 million and a price-to-earnings ratio of 45.65. The company’s 50-day moving average is $39.78 and its 200 day moving average is $38.44.

In other Acacia Communications news, VP Mehrdad Givehchi sold 103,772 shares of the stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $21.39, for a total value of $2,219,683.08. 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Murugesan Shanmugaraj sold 50,000 shares of the stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $21.39, for a total transaction of $1,069,500.00. Following the completion of the sale, the chief executive officer now owns 922,563 shares of the company’s stock, valued at approximately $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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