Applied Micro Circuits Receives Average Recommendation of “Buy” from Brokerages (NASDAQ:AMCC)
Applied Micro Circuits (NASDAQ:AMCC) has been given an average recommendation of “Buy” by the eleven analysts that are currently covering the company, AnalystRatingsNetwork reports. Four equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $13.90.
A number of research firms have recently commented on AMCC. Analysts at Zacks reiterated a “neutral” rating on shares of Applied Micro Circuits in a research note on Wednesday, July 16th. They now have a $11.00 price target on the stock. Separately, 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. Finally, 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.
Shares of Applied Micro Circuits (NASDAQ:AMCC) opened at 10.50 on Friday. Applied Micro Circuits has a 52-week low of $8.32 and a 52-week high of $15.09. The stock has a 50-day moving average of $10.57 and a 200-day moving average of $10.30. The company’s market cap is $818.7 million.
Applied Micro Circuits (NASDAQ:AMCC) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the 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 revenue for the quarter was down 8.0% on a year-over-year basis. Analysts expect that Applied Micro Circuits will post $0.18 EPS for the current fiscal year.
Applied Micro Circuits Corporation (NASDAQ:AMCC) is a global computing and connectivity solutions for data centers and service providers.
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