Applied Micro Circuits Corp. PT Raised to $12.00 (AMCC)
Equities research analysts at Topeka Capital Markets lifted their target price on shares of Applied Micro Circuits Corp. (NASDAQ:AMCC) from $10.00 to $12.00 in a research note issued to investors on Friday, AnalystRatingsNetwork.com reports. The firm currently has a “hold” rating on the stock. Topeka Capital Markets’ price objective points to a potential upside of 0.17% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Evercore Partners raised their price target on shares of Applied Micro Circuits Corp. from $13.00 to $20.00 in a research note to investors on Friday, October 18th. They now have an “overweight” rating on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of Applied Micro Circuits Corp. from $13.00 to $16.00 in a research note to investors on Tuesday, October 15th. They now have an “outperform” rating on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Applied Micro Circuits Corp. from $12.00 to $18.00 in a research note to investors on Thursday, October 10th. They now have an “outperform” rating on the stock. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Applied Micro Circuits Corp. currently has an average rating of “Buy” and a consensus price target of $13.50.
Applied Micro Circuits Corp. (NASDAQ:AMCC) traded down 7.99% on Friday, hitting $11.98. The stock had a trading volume of 2,262,763 shares. Applied Micro Circuits Corp. has a one year low of $4.28 and a one year high of $13.11. The stock’s 50-day moving average is $11.65 and its 200-day moving average is $9.08. The company’s market cap is $875.9 million.
Applied Micro Circuits Corp. (NASDAQ:AMCC) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.03 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.03. The company had revenue of $55.40 million for the quarter, compared to the consensus estimate of $55.00 million. During the same quarter in the prior year, the company posted ($0.16) earnings per share. The company’s quarterly revenue was up 19.7% 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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