After Rosenblatt Securities and Cowen & Co. gave Acacia Communications (NASDAQ: ACIA) a Buy rating last month, the company received another Buy, this time from William Blair. Analyst Dmitry Netis maintained a Buy rating on Acacia Communications yesterday. The company’s shares opened today at $35.03.
Netis observed:
“We came away from the presentation with the reinforced view of the company’s competitive positioning, expanding product breadth and customer base, and outlook for the second half of the year . Additional highlights can be found in the note.”
According to TipRanks.com, Netis is a 4-star analyst with an average return of 9.9% and a 55.8% success rate. Netis covers the Consumer Goods sector, focusing on stocks such as Ribbon Communications Inc, Juniper Networks, and Viavi Solutions.
Currently, the analyst consensus on Acacia Communications is Moderate Buy and the average price target is $33.50, representing a -4.4% downside.
In a report issued on June 4, Cowen & Co. also maintained a Buy rating on the stock with a $32 price target.
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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 1.17M.
Based on the recent corporate insider activity of 84 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.
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