Shares of Acacia Communications, Inc. (NASDAQ:ACIA) have earned an average rating of “Buy” from the six research firms that are currently covering the firm. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $94.83.

Several analysts recently issued reports on ACIA shares. Deutsche Bank AG reaffirmed a “buy” rating and set a $90.00 price objective (up previously from $60.00) on shares of Acacia Communications in a research note on Monday, August 15th. Bank of America Corp. reaffirmed a “buy” rating and set a $130.00 price objective (up previously from $88.00) on shares of Acacia Communications in a research note on Sunday, September 4th. Zacks Investment Research raised shares of Acacia Communications from a “hold” rating to a “strong-buy” rating and set a $122.00 price objective for the company in a research note on Tuesday, September 13th. Needham & Company LLC upped their price objective 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. Finally, Cowen and Company started coverage on shares of Acacia Communications in a research note on Tuesday, June 7th. They set an “outperform” rating and a $53.00 price objective for the company.

Several hedge funds have recently bought and sold shares of ACIA. Matrix VIII US Management Co. LLC purchased a new stake in Acacia Communications during the second quarter valued at $482,937,000. Nationwide Fund Advisors purchased a new stake in Acacia Communications during the second quarter valued at $547,000. JPMorgan Chase & Co. purchased a new stake in Acacia Communications during the second quarter valued at $1,244,000. Geneva Advisors LLC purchased a new stake in Acacia Communications during the second quarter valued at $292,000. Finally, Turner Investments L.P. purchased a new stake in Acacia Communications during the second quarter valued at $300,000.

Shares of Acacia Communications (NASDAQ:ACIA) opened at 112.82 on Wednesday. Acacia Communications has a 1-year low of $27.05 and a 1-year high of $128.73. The company has a market cap of $4.04 billion and a P/E ratio of 75.31. The stock’s 50 day moving average is $93.19 and its 200 day moving average is $63.21.

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

Acacia Communications Company Profile

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.

5 Day Chart for NASDAQ:ACIA

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