Applied Micro Circuits Receives “Hold” Rating from Topeka Capital Markets (AMCC)
Applied Micro Circuits (NASDAQ:AMCC)‘s stock had its “hold” rating restated by equities researchers at Topeka Capital Markets in a research report issued on Wednesday. They currently have a $9.00 price target on the stock, down from their previous price target of $10.00. Topeka Capital Markets’ price objective would indicate a potential upside of 3.33% from the company’s current price.
Shares of Applied Micro Circuits (NASDAQ:AMCC) traded down 9.93% during mid-day trading on Wednesday, hitting $8.71. 5,532,531 shares of the company’s stock traded hands. Applied Micro Circuits has a 52-week low of $8.11 and a 52-week high of $15.09. The stock’s 50-day moving average is $10.57 and its 200-day moving average is $10.19. The company’s market cap is $679.1 million.
A number of other analysts have also recently weighed in on AMCC. Analysts at Canaccord Genuity cut their price target on shares of Applied Micro Circuits from $16.00 to $12.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Separately, 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. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $13.20.
Applied Micro Circuits Corporation (NASDAQ:AMCC) is a global computing and connectivity solutions for data centers and service providers.
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