Cowen & Co. analyst Paul Silverstein maintained a Buy rating on Acacia Communications (NASDAQ: ACIA) today and set a price target of $32. The company’s shares opened today at $32.90.
According to TipRanks.com, Silverstein is a 5-star analyst with an average return of 32.6% and a 62.9% success rate. Silverstein covers the Consumer Goods sector, focusing on stocks such as Ciena Corp, Ericsson, and Adtran.
Currently, the analyst consensus on Acacia Communications is Moderate Buy and the average price target is $32.11, representing a -2.4% downside.
In a report issued on May 29, Rosenblatt Securities also initiated coverage with a Buy rating on the stock with a $42 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 1.15M.
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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