Acacia Communications, Inc. (NASDAQ:ACIA) fell 4.1% on Tuesday . The company traded as low as $108.55 and last traded at $109.56, with a volume of 933,246 shares trading hands. The stock had previously closed at $114.26.

Several equities research analysts have recently commented on ACIA shares. Deutsche Bank AG upped their price target on Acacia Communications from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, September 9th. Bank of America Corp. restated a “buy” rating and set a $130.00 price target (up previously from $88.00) on shares of Acacia Communications in a research note on Sunday, September 4th. Zacks Investment Research upgraded Acacia Communications from a “hold” rating to a “strong-buy” rating and set a $122.00 price target for the company in a research note on Tuesday, September 13th. Needham & Company LLC upped their price target on Acacia Communications from $65.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. 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 price target for the company. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $94.83.

The firm has a 50-day moving average price of $98.85 and a 200 day moving average price of $65.02. The firm has a market cap of $3.91 billion and a PE ratio of 72.95.

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Acacia Communications (NASDAQ:ACIA) last issued its quarterly earnings data 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 business 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, equities research analysts expect that Acacia Communications, Inc. will post $2.67 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of ACIA. Matrix VIII US Management Co. LLC purchased a new position in shares of Acacia Communications during the second quarter valued at approximately $482,937,000. Whale Rock Capital Management LLC purchased a new position in shares of Acacia Communications during the second quarter valued at approximately $29,368,000. Bloom Tree Partners LLC purchased a new position in shares of Acacia Communications during the second quarter valued at approximately $23,964,000. Lord Abbett & CO. LLC purchased a new position in shares of Acacia Communications during the second quarter valued at approximately $15,132,000. Finally, Gilder Gagnon Howe & Co. LLC purchased a new position in shares of Acacia Communications during the second quarter valued at approximately $12,294,000.

About Acacia Communications

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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