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

Several research analysts have commented on the stock. Deutsche Bank AG restated a “buy” rating and issued a $90.00 target price (up previously from $60.00) on shares of Acacia Communications in a research report on Monday, August 15th. Needham & Company LLC upped their target price on shares of Acacia Communications from $65.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. Bank of America Corp. assumed coverage on shares of Acacia Communications in a research report on Tuesday, June 7th. They issued a “buy” rating and a $44.00 target price for the company. Cowen and Company assumed coverage on shares of Acacia Communications in a research report on Tuesday, June 7th. They issued an “outperform” rating and a $53.00 target price for the company. Finally, Goldman Sachs Group Inc. assumed coverage on shares of Acacia Communications in a research report on Tuesday, June 7th. They issued a “neutral” rating and a $39.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $65.20.

The company’s 50 day moving average is $78.28 and its 200-day moving average is $57.65. The firm has a market capitalization of $4.14 billion and a price-to-earnings ratio of 77.10.

Acacia Communications (NASDAQ:ACIA) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.47. The business had revenue of $116.20 million for the quarter, compared to the consensus estimate of $57.90 million. The firm’s revenue for the quarter was up 101.0% on a year-over-year basis. On average, equities research analysts predict that Acacia Communications, Inc. will post $2.67 EPS for the current 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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