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

Several equities research analysts have recently weighed in on the company. Deutsche Bank AG reissued a “buy” rating on shares of Acacia Communications in a research report on Wednesday, June 15th. Goldman Sachs Group Inc. assumed 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. 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. Needham & Company LLC started coverage on Acacia Communications in a research note on Tuesday, June 7th. They set a “buy” rating and a $48.00 price target on the stock. Finally, Cowen and Company started coverage on Acacia Communications in a research note on Tuesday, June 7th. They set an “outperform” rating and a $53.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $52.20.

The stock has a 50-day moving average price of $50.49 and a 200-day moving average price of $44.97. The stock has a market cap of $450.01 million and a PE ratio of 57.32.

In other news, CFO John F. Gavin sold 7,500 shares of the stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $21.39, for a total transaction of $160,425.00. Following the completion of the sale, the chief financial officer now owns 107,064 shares in the company, valued at approximately $2,290,098.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric A. Swanson sold 65,000 shares of the stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $21.39, for a total value of $1,390,350.00. Following the sale, the director now owns 16,000 shares of the company’s stock, valued at approximately $342,240. 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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