Applied Micro Circuits Rating Lowered to Market Perform at FBR Capital Markets (AMCC)
Applied Micro Circuits (NASDAQ:AMCC) was downgraded by equities research analysts at FBR Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $10.00 target price on the stock, down from their previous target price of $11.00. FBR Capital Markets’ target price would suggest a potential upside of 16.41% from the stock’s previous close.
A number of other firms have also recently commented on AMCC. Analysts at Zacks reiterated a “neutral” rating on shares of Applied Micro Circuits in a research note on Tuesday, August 5th. They now have a $8.75 price target on the stock. Separately, analysts at Roth Capital raised their price target on shares of Applied Micro Circuits from $12.00 to $14.00 in a research note on Thursday, July 31st. Finally, analysts at BMO Capital Markets cut their price target on shares of Applied Micro Circuits from $12.00 to $8.00 in a research note on Thursday, July 31st. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.98.
Shares of Applied Micro Circuits (NASDAQ:AMCC) traded down 3.61% during mid-day trading on Tuesday, hitting $8.28. 213,388 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 $9.95 and a 200-day moving average of $10.02. The company’s market cap is $647.5 million.
Applied Micro Circuits Corporation (NASDAQ:AMCC) is a global computing and connectivity solutions for data centers and service providers.
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