Shares of 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.

ACIA has been the topic of several recent analyst reports. Cowen and Company initiated coverage on shares of 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. initiated coverage on shares of Acacia Communications in a report on Tuesday, June 7th. They issued a “buy” rating and a $44.00 target price on the stock. Needham & Company LLC initiated coverage on shares of Acacia Communications in a report on Tuesday, June 7th. They issued a “buy” rating and a $48.00 target price on the stock. Deutsche Bank AG initiated coverage on shares of Acacia Communications in a report on Tuesday, June 7th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Goldman Sachs Group Inc. initiated coverage on shares of Acacia Communications in a report on Tuesday, June 7th. They issued a “neutral” rating and a $39.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Acacia Communications currently has a consensus rating of “Buy” and an average target price of $46.80.

The company has a market cap of $356.04 million and a P/E ratio of 45.3539. The firm’s 50 day moving average price is $40.20 and its 200-day moving average price is $38.72.

In related news, VP Mehrdad Givehchi sold 103,772 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 $2,219,683.08. Following the transaction, the vice president now directly owns 613,334 shares of the company’s stock, valued at approximately $13,119,214.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ofs Fitel, Llc sold 95,100 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 transaction of $2,034,189.00. Following the completion of 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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