Acacia Communications, Inc. (NASDAQ:ACIA) rose 4.8% on Monday . The company traded as high as $113.89 and last traded at $113.03, with a volume of 1,553,887 shares. The stock had previously closed at $107.86.

Several brokerages have commented on ACIA. Deutsche Bank AG reaffirmed a “buy” rating and issued a $90.00 target price (up previously from $60.00) on shares of Acacia Communications in a research note on Monday, August 15th. Needham & Company LLC upped their target price on shares of Acacia Communications from $48.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 25th. Cowen and Company began coverage on shares of Acacia Communications in a research note on Tuesday, June 7th. They issued an “outperform” rating and a $53.00 target price for the company. Bank of America Corp. began coverage on shares of Acacia Communications in a research note on Tuesday, June 7th. They issued a “buy” rating and a $44.00 target price for the company. Finally, Goldman Sachs Group Inc. began coverage on shares of Acacia Communications in a research note on Tuesday, June 7th. They issued a “neutral” rating and a $39.00 target price for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $65.20.

The firm’s 50-day moving average is $74.52 and its 200-day moving average is $56.08. The company has a market capitalization of $4.06 billion and a P/E ratio of 75.77.

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, beating analysts’ consensus estimates of $0.30 by $0.47. The company earned $116.20 million during the quarter, compared to analyst estimates of $57.90 million. The business’s quarterly revenue was up 101.0% on a year-over-year basis. On average, equities analysts expect that Acacia Communications, Inc. will post $2.67 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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