Share on StockTwits

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.

The Fly On The Wall

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.