Insider Selling: Paramesh Gopi Sells 1,000 Shares of Applied Micro Circuits Stock (AMCC)
Applied Micro Circuits (NASDAQ:AMCC) CEO Paramesh Gopi sold 1,000 shares of Applied Micro Circuits stock on the open market in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $11.62, for a total value of $11,620.00. Following the transaction, the chief executive officer now directly owns 663,389 shares of the company’s stock, valued at approximately $7,708,580. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Canaccord Genuity initiated coverage on shares of Applied Micro Circuits in a research note on Tuesday, June 10th. They set a “buy” rating and a $16.00 price target on the stock. Separately, analysts at FBR Capital Markets reiterated an “outperform” rating on shares of Applied Micro Circuits in a research note on Monday, April 28th. They now have a $14.00 price target on the stock. Finally, analysts at TheStreet upgraded shares of Applied Micro Circuits from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $13.80.
Applied Micro Circuits (NASDAQ:AMCC) traded up 0.09% on Tuesday, hitting $11.10. The stock had a trading volume of 415,189 shares. Applied Micro Circuits has a one year low of $8.15 and a one year high of $15.09. The stock’s 50-day moving average is $9.51 and its 200-day moving average is $10.58. The company’s market cap is $865.5 million.
Applied Micro Circuits (NASDAQ:AMCC) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.07) by $0.08. The company had revenue of $51.80 million for the quarter, compared to the consensus estimate of $52.25 million. The company’s quarterly revenue was down 8.0% on a year-over-year basis. On average, analysts predict that Applied Micro Circuits will post $0.18 earnings per share for the current fiscal year.
Applied Micro Circuits Corporation (NASDAQ:AMCC) is a global computing and connectivity solutions for data centers and service providers.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.