Shares of Acacia Communications, Inc. (NASDAQ:ACIA) traded down 2.2% during mid-day trading on Thursday . The company traded as low as $67.51 and last traded at $67.70, with a volume of 1,754,795 shares traded. The stock had previously closed at $69.20.

A number of analysts have issued reports on the stock. Needham & Company LLC boosted their price target on shares of Acacia Communications to $100.00 in a research note on Friday. Cowen and Company assumed coverage on shares of Acacia Communications in a research note on Tuesday, June 7th. They set an “outperform” rating and a $53.00 price target on the stock. Goldman Sachs Group Inc. assumed coverage on shares of Acacia Communications in a research note on Tuesday, June 7th. They set a “neutral” rating and a $39.00 price target on the stock. Deutsche Bank AG assumed coverage on shares of Acacia Communications in a research note on Tuesday, June 7th. They set a “buy” rating and a $50.00 price target on the stock. Finally, Bank of America Corp. assumed coverage on shares of Acacia Communications in a research note on Tuesday, June 7th. They set a “buy” rating and a $44.00 price target on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Acacia Communications currently has an average rating of “Buy” and an average target price of $59.20.

The firm has a 50 day moving average price of $54.04 and a 200-day moving average price of $46.73. The stock has a market cap of $472.41 million and a PE ratio of 60.18.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.47. The company had revenue of $116.20 million for the quarter, compared to analyst estimates of $57.90 million. The firm’s quarterly revenue was up 101.0% compared to the same quarter last year. Equities research analysts predict that Acacia Communications, Inc. will post $1.62 EPS for the current fiscal year.

In related news, VP Mehrdad Givehchi sold 103,772 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 $2,219,683.08. Following the sale, the vice president now owns 613,334 shares of the company’s stock, valued at $13,119,214.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO John F. Gavin sold 7,500 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 $160,425.00. Following the sale, the chief financial officer now directly owns 107,064 shares in the company, 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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