Acacia Communications (ACIA): Order Rates Improving - Needham

Needham & Company analyst, Alex Henderson reiterated his Buy rating on shares of Acacia Communications (NASDAQ: ACIA) and price target of $50 after 2Q17 results and 3Q17 guidance were in-line with the Pre-Release.

The analyst stated "order activity at ACIA’s largest Chinese NEM partner is increasing as some national backbone expansion projects that had been delayed in 1Q17 started shipping late in 2Q17. Acacia has also seen order activity among its DCI customer base increase as well, with the largest gains coming from a direct hyperscale customer that is migrating to Acacia’s AC400 module. In addition to better order activity, Acacia’s new CFP2 ACO and CFP2 DCO products remain on track and should account for greater than 10% of sales in 2H17".

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Shares of Acacia Communications closed at $45.22 yesterday.

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