Acacia Communications, Inc. (ACIA) Sees Large Volume Increase
Acacia Communications, Inc. (NASDAQ:ACIA) shares saw unusually-high trading volume on Thursday . Approximately 1,512,638 shares traded hands during mid-day trading, an increase of 11% from the previous session’s volume of 1,358,087 shares.The stock last traded at $116.06 and had previously closed at $115.29.
ACIA has been the topic of several recent analyst reports. Deutsche Bank AG reiterated a “buy” rating on shares of Acacia Communications in a research note on Wednesday, June 15th. Needham & Company LLC initiated coverage on Acacia Communications in a research note on Tuesday, June 7th. They issued a “buy” rating and a $48.00 price target on the stock. Bank of America Corp. initiated coverage on Acacia Communications in a research note on Tuesday, June 7th. They issued a “buy” rating and a $44.00 price target on the stock. Goldman Sachs Group Inc. initiated coverage on Acacia Communications in a research note on Tuesday, June 7th. They issued a “neutral” rating and a $39.00 price target on the stock. Finally, Cowen and Company initiated coverage on Acacia Communications in a research note on Tuesday, June 7th. They issued an “outperform” rating and a $53.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Acacia Communications currently has an average rating of “Buy” and an average price target of $65.20.
The stock has a market cap of $4.22 billion and a PE ratio of 78.68. The stock’s 50 day moving average is $63.94 and its 200 day moving average is $51.27.
Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings data on Thursday, August 11th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.47. The firm had revenue of $116.20 million for the quarter, compared to analysts’ expectations of $57.90 million. The company’s revenue for the quarter was up 101.0% compared to the same quarter last year. On average, equities analysts expect that Acacia Communications, Inc. will post $2.44 EPS for the current fiscal year.
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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