Applied Micro Circuits Receives Consensus Rating of “Buy” from Analysts (NASDAQ:AMCC)
Shares of Applied Micro Circuits (NASDAQ:AMCC) have earned a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the stock, AmericanBankingNews.com reports. Five investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $11.98.
Applied Micro Circuits (NASDAQ:AMCC) opened at 8.47 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 $9.02 and its 200-day moving average is $9.81. The company’s market cap is $662.3 million.
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.
Applied Micro Circuits Corporation (NASDAQ:AMCC) is a global computing and connectivity solutions for data centers and service providers.
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