Cowen & Co. analyst Paul Silverstein reiterated a Buy rating on Acacia Communications (NASDAQ: ACIA) yesterday and set a price target of $44. The company’s shares closed yesterday at $37.93.
According to TipRanks.com, Silverstein is a 5-star analyst with an average return of 29.4% and a 60.6% success rate. Silverstein covers the Consumer Goods sector, focusing on stocks such as Ribbon Communications Inc, Applied Optoelectronics, and Motorola Solutions.
Currently, the analyst consensus on Acacia Communications is a Moderate Buy with an average price target of $40.94, a 7.9% upside from current levels. In a report issued on July 31, William Blair also maintained a Buy rating on the stock.
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The company has a one-year high of $50.10 and a one-year low of $24.72. Currently, Acacia Communications has an average volume of 845.8K.
Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is negative on the stock.
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Acacia Communications, Inc. engages in the development, manufacture, and sale of high-speed coherent optical interconnect products that are designed to transform communications networks through improvements in performance, capacity, and cost.
