Applied Micro Circuits Corp. (NASDAQ:AMCC) shares traded up 1.8% on Monday . The company traded as high as $6.81 and last traded at $6.70, with a volume of 325,419 shares trading hands. The stock had previously closed at $6.58.

A number of research analysts recently weighed in on the stock. Drexel Hamilton restated a “buy” rating on shares of Applied Micro Circuits Corp. in a report on Saturday, April 30th. Zacks Investment Research downgraded shares of Applied Micro Circuits Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. Topeka Capital Markets lifted their price target on shares of Applied Micro Circuits Corp. from $6.00 to $6.50 and gave the stock a “hold” rating in a research note on Friday, April 29th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Applied Micro Circuits Corp. in a research note on Friday, April 29th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Applied Micro Circuits Corp. in a research note on Monday, April 18th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Applied Micro Circuits Corp. presently has an average rating of “Hold” and an average target price of $8.25.

The stock has a 50-day moving average price of $6.61 and a 200 day moving average price of $6.19. The stock’s market capitalization is $570.22 million.

Applied Micro Circuits Corp. (NASDAQ:AMCC) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.01. During the same quarter in the prior year, the company earned ($0.04) earnings per share. The company earned $41.50 million during the quarter, compared to analysts’ expectations of $41.51 million. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Analysts forecast that Applied Micro Circuits Corp. will post ($0.04) EPS for the current fiscal year.

A number of institutional investors recently modified their holdings of the company. Wells Fargo & Company MN boosted its position in shares of Applied Micro Circuits Corp. by 9.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,765,732 shares of the company’s stock worth $17,617,000 after buying an additional 241,874 shares in the last quarter. Russell Frank Co raised its stake in shares of Applied Micro Circuits Corp. by 54.8% in the fourth quarter. Russell Frank Co now owns 435,928 shares of the company’s stock worth $2,864,000 after buying an additional 154,234 shares during the last quarter. Finally, Nationwide Fund Advisors raised its stake in shares of Applied Micro Circuits Corp. by 266.1% in the fourth quarter. Nationwide Fund Advisors now owns 191,204 shares of the company’s stock worth $1,218,000 after buying an additional 138,970 shares during the last quarter.

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 are used in a variety of communications and other networking applications, such as the infrastructure for data centers, wide area networks, carrier access networks, and enterprise networks.

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