Applied Micro Circuits Corp. Stock Rating Lowered by BMO Capital Markets (AMCC)
Applied Micro Circuits Corp. (NASDAQ:AMCC) was downgraded by equities researchers at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued on Friday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on AMCC. Analysts at Thomson Reuters/Verus upgraded shares of Applied Micro Circuits Corp. from a “sell” rating to a “hold” rating in a research note to investors on Monday, December 9th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Applied Micro Circuits Corp. in a research note to investors on Monday, November 4th. They now have a $12.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $12.86.
Shares of Applied Micro Circuits Corp. (NASDAQ:AMCC) opened at 12.93 on Friday. Applied Micro Circuits Corp. has a one year low of $6.51 and a one year high of $15.09. The stock has a 50-day moving average of $12.23 and a 200-day moving average of $11.68. The company’s market cap is $955.0 million.
Applied Micro Circuits Corp. (NASDAQ:AMCC) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted ($0.16) earnings per share. The company’s revenue for the quarter was up 19.7% on a year-over-year basis.
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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