Acacia Communications, Inc. (ACIA) Sees Unusually-High Trading Volume
Shares of Acacia Communications, Inc. (NASDAQ:ACIA) saw strong trading volume on Thursday . 1,512,638 shares changed hands during 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.
A number of research analysts have commented on the company. Deutsche Bank AG reaffirmed 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 price target for the company. Needham & Company LLC upped their price target on Acacia Communications from $65.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Bank of America Corp. began coverage on Acacia Communications in a research report on Tuesday, June 7th. They set a “buy” rating and a $44.00 price target for the company. Finally, Cowen and Company began coverage on Acacia Communications in a report on Tuesday, June 7th. They set an “outperform” rating and a $53.00 target price on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $65.20.
The stock has a market cap of $4.11 billion and a PE ratio of 76.62. The firm has a 50-day moving average price of $66.08 and a 200-day moving average price of $52.22.
Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings results 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 earned $116.20 million during the quarter, compared to analysts’ expectations of $57.90 million. The firm’s quarterly revenue was up 101.0% compared to the same quarter last year. Analysts expect that Acacia Communications, Inc. will post $2.68 earnings per share 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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