Applied Micro Circuits Corp. Given New $18.00 Price Target at BMO Capital Markets (AMCC)
Equities research analysts at BMO Capital Markets upped their target price on shares of Applied Micro Circuits Corp. (NASDAQ:AMCC) from $12.00 to $18.00 in a research note issued to investors on Thursday, Analyst Ratings.Net reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 41.40% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James raised their price target on shares of Applied Micro Circuits Corp. from $13.00 to $15.00 in a research note to investors on Thursday, October 3rd. They now have a “strong-buy” rating on the stock. Separately, analysts at Thomson Reuters/Verus upgraded shares of Applied Micro Circuits Corp. from a “hold” rating to a “buy” rating in a research note to investors on Monday, August 26th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Applied Micro Circuits Corp. in a research note to investors on Monday, August 12th. They now have a $12.00 price target on the stock. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $11.57.
Applied Micro Circuits Corp. (NASDAQ:AMCC) traded up 4.26% during mid-day trading on Thursday, hitting $12.73. 1,404,237 shares of the company’s stock traded hands. Applied Micro Circuits Corp. has a 52 week low of $4.28 and a 52 week high of $13.73. The stock has a 50-day moving average of $12.20 and a 200-day moving average of $9.70. The company’s market cap is $930.7 million.
Applied Micro Circuits Corp. (NASDAQ:AMCC) last announced its earnings results on Wednesday, July 24th. The company reported $0.02 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.01) by $0.03. The company had revenue of $54.10 million for the quarter, compared to the consensus estimate of $54.03 million. During the same quarter in the prior year, the company posted ($0.18) earnings per share. The company’s quarterly revenue was up 31.0% on a year-over-year basis. Analysts expect that Applied Micro Circuits Corp. will post $0.12 EPS for the current fiscal year.
Applied Micro Circuits Corporation (NASDAQ:AMCC) is a provider of semiconductor solutions for the data center, enterprise, telecom and consumer/small medium business (SMB) markets.
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