Susquehanna began coverage on shares of Applied Micro Circuits Corp. (NASDAQ:AMCC) in a research report issued on Tuesday. The firm set a “neutral” rating and a $8.00 price target on the stock. Susquehanna’s target price points to a potential upside of 16.28% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Roth Capital started coverage on Applied Micro Circuits Corp. in a report on Thursday, September 1st. They issued a “buy” rating and a $8.00 target price for the company. BMO Capital Markets reiterated a “hold” rating and issued a $7.00 target price on shares of Applied Micro Circuits Corp. in a report on Thursday, July 28th. Zacks Investment Research upgraded Applied Micro Circuits Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. Finally, Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Applied Micro Circuits Corp. in a report on Wednesday, June 15th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $8.19.

Analyst Recommendations for Applied Micro Circuits Corp. (NASDAQ:AMCC)

Shares of Applied Micro Circuits Corp. (NASDAQ:AMCC) traded down 0.86% during trading on Tuesday, hitting $6.88. The stock had a trading volume of 290,802 shares. The stock has a 50-day moving average price of $7.04 and a 200 day moving average price of $6.59. Applied Micro Circuits Corp. has a 12 month low of $4.93 and a 12 month high of $7.68. The company’s market cap is $587.32 million.

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Applied Micro Circuits Corp. (NASDAQ:AMCC) last announced its earnings results on Wednesday, July 27th. The company reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.01. The company earned $41.50 million during the quarter, compared to analysts’ expectations of $41.51 million. Applied Micro Circuits Corp. had a negative return on equity of 31.29% and a negative net margin of 21.91%. Applied Micro Circuits Corp.’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.04) EPS. Equities analysts expect that Applied Micro Circuits Corp. will post ($0.05) EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Applied Micro Circuits Corp. by 3.9% in the second quarter. Vanguard Group Inc. now owns 6,371,609 shares of the company’s stock worth $40,905,000 after buying an additional 239,326 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Applied Micro Circuits Corp. by 36.1% in the second quarter. Macquarie Group Ltd. now owns 2,713,104 shares of the company’s stock valued at $17,418,000 after buying an additional 719,568 shares in the last quarter. Friess Associates LLC boosted its stake in shares of Applied Micro Circuits Corp. by 1.2% in the first quarter. Friess Associates LLC now owns 841,126 shares of the company’s stock valued at $5,434,000 after buying an additional 10,126 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Applied Micro Circuits Corp. during the second quarter valued at $3,904,000. Finally, Geode Capital Management LLC boosted its stake in shares of Applied Micro Circuits Corp. by 7.3% in the first quarter. Geode Capital Management LLC now owns 591,032 shares of the company’s stock valued at $3,818,000 after buying an additional 40,147 shares in the last quarter. Institutional investors own 76.24% of the company’s stock.

About Applied Micro Circuits Corp.

Applied Micro Circuits Corporation (AMCC) provides silicon solutions for cloud infrastructure and data centers, as well as connectivity products for edge, metro and long haul communications equipment. The Company’s products serve Computing and Connectivity markets. Its Computing products include the X-Gene family of server processors, based on the ARMv8 64-bit Instruction Set Architecture (ISA), which target mainstream cloud and data center infrastructure, including hyperscale, telco, enterprise and high performance computing.

5 Day Chart for NASDAQ:AMCC

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