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Shares of Applied Micro Circuits (NASDAQ:AMCC) have earned a consensus rating of “Buy” from the eleven ratings firms that are covering the stock, Analyst Ratings News reports. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $11.98.

Shares of Applied Micro Circuits (NASDAQ:AMCC) opened at 8.21 on Thursday. Applied Micro Circuits has a 52 week low of $8.09 and a 52 week high of $15.09. The stock’s 50-day moving average is $9.13 and its 200-day moving average is $9.83. The company’s market cap is $642.0 million.

A number of analysts have recently weighed in on AMCC shares. 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.

Applied Micro Circuits Corporation (NASDAQ:AMCC) is a global computing and connectivity solutions for data centers and service providers.

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