Acacia Communications, Inc. (NASDAQ:ACIA)’s share price was down 5.3% during trading on Tuesday . The stock traded as low as $59.79 and last traded at $60.55, with a volume of 481,142 shares changing hands. The stock had previously closed at $63.97.

Several equities analysts recently commented on ACIA shares. Needham & Company LLC upped their target price on Acacia Communications from $48.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 25th. Deutsche Bank AG upped their target price on Acacia Communications from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, July 14th. Bank of America Corp. started coverage on Acacia Communications in a research note on Tuesday, June 7th. They issued a “buy” rating and a $44.00 target price for the company. Goldman Sachs Group Inc. started coverage on Acacia Communications in a research note on Tuesday, June 7th. They issued a “neutral” rating and a $39.00 target price for the company. Finally, Cowen and Company started coverage on Acacia Communications in a research note on Tuesday, June 7th. They issued an “outperform” rating and a $53.00 target price for the company. One 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 price target of $52.20.

The company has a 50 day moving average of $48.50 and a 200 day moving average of $44.00. The stock has a market capitalization of $424.19 million and a P/E ratio of 54.04.

In related news, VP Mehrdad Givehchi sold 103,772 shares of the business’s stock in a transaction that occurred on 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 transaction, the vice president now owns 613,334 shares in the company, valued at approximately $13,119,214.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Murugesan Shanmugaraj sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $21.39, for a total transaction of $1,069,500.00. Following the completion of the transaction, 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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