Applied Micro Circuits Hits New 12-Month Low at $8.09 (AMCC)
Applied Micro Circuits (NASDAQ:AMCC) reached a new 52-week low on Monday , ARN reports. The company traded as low as $8.09 and last traded at $8.17, with a volume of 542,952 shares. The stock had previously closed at $8.25.
A number of research firms have recently commented on AMCC. Analysts at FBR Capital Markets downgraded shares of Applied Micro Circuits from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 12th. They now have a $10.00 price target on the stock, down previously from $11.00. Separately, 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. Finally, 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. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $11.98.
The stock has a 50-day moving average of $9.65 and a 200-day moving average of $9.95. 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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