Share on StockTwits

Stock analysts at BMO Capital Markets cut their target price on shares of Applied Micro Circuits (NASDAQ:AMCC) from $12.00 to $8.00 in a report issued on Thursday. BMO Capital Markets’ price objective indicates a potential downside of 5.33% from the company’s current price.

AMCC has been the subject of a number of other recent research reports. Analysts at Topeka Capital Markets reiterated a “hold” rating on shares of Applied Micro Circuits in a research note on Wednesday. They now have a $9.00 price target on the stock, down previously from $10.00. Separately, 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. Finally, 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 research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $12.60.

Applied Micro Circuits (NASDAQ:AMCC) traded up 1.32% during mid-day trading on Thursday, hitting $8.45. 1,536,707 shares of the company’s stock traded hands. Applied Micro Circuits has a one year low of $8.11 and a one year high of $15.09. The stock has a 50-day moving average of $10.40 and a 200-day moving average of $10.1. The company’s market cap is $658.4 million.

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.