Acacia Communications, Inc. (NASDAQ:ACIA)’s share price was up 3% during trading on Monday . The stock traded as high as $119.19 and last traded at $118.27, with a volume of 1,009,080 shares changing hands. The stock had previously closed at $114.78.

Several equities analysts have recently commented on ACIA shares. Deutsche Bank AG reiterated a “buy” rating and set a $90.00 target price (up from $60.00) on shares of Acacia Communications in a research note on Monday, August 15th. Needham & Company LLC increased their target price on Acacia Communications from $65.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, August 12th. Bank of America Corp. started coverage on Acacia Communications in a research note on Tuesday, June 7th. They set 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 set 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 set an “outperform” rating and a $53.00 target price for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $65.20.

The stock has a market cap of $4.18 billion and a PE ratio of 78.02. The stock has a 50-day moving average of $66.08 and a 200 day moving average of $52.22.

Acacia Communications (NASDAQ:ACIA) last posted its quarterly earnings results on Thursday, August 11th. The company reported $0.77 earnings per share for the quarter, topping the Zacks’ 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 firm’s revenue was up 101.0% on a year-over-year basis. On average, equities analysts predict that Acacia Communications, Inc. will post $2.68 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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