Susquehanna began coverage on shares of Applied Micro Circuits Corp. (NASDAQ:AMCC) in a research note released on Tuesday. The firm issued a neutral rating and a $8.00 target price on the stock.

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

Several other equities analysts have also commented on AMCC. Zacks Investment Research raised Applied Micro Circuits Corp. from a sell rating to a hold rating in a report on Wednesday, June 29th. Oppenheimer Holdings Inc. reissued a hold rating on shares of Applied Micro Circuits Corp. in a report on Wednesday, June 15th. Roth Capital began coverage on Applied Micro Circuits Corp. in a report on Thursday, September 1st. They issued a buy rating and a $8.00 target price on the stock. Finally, BMO Capital Markets reissued a hold rating and issued a $7.00 target price on shares of Applied Micro Circuits Corp. in a report on Thursday, July 28th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $8.19.

Applied Micro Circuits Corp. (NASDAQ:AMCC) opened at 7.00 on Tuesday. The stock’s market cap is $597.56 million. The company has a 50 day moving average price of $7.06 and a 200 day moving average price of $6.59. Applied Micro Circuits Corp. has a 52 week low of $4.93 and a 52 week high of $7.68.

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

Several large investors have recently made changes to their positions in AMCC. Macquarie Group Ltd. increased 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 during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Applied Micro Circuits Corp. by 1.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 295,089 shares of the company’s stock valued at $1,895,000 after buying an additional 4,872 shares during the period. Stifel Financial Corp increased its stake in shares of Applied Micro Circuits Corp. by 6.6% in the second quarter. Stifel Financial Corp now owns 20,250 shares of the company’s stock valued at $130,000 after buying an additional 1,250 shares during the period. Jane Street Group LLC increased its stake in shares of Applied Micro Circuits Corp. by 49.3% in the second quarter. Jane Street Group LLC now owns 16,655 shares of the company’s stock valued at $107,000 after buying an additional 5,503 shares during the period. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Applied Micro Circuits Corp. during the second quarter valued at $1,101,000. Institutional investors and hedge funds own 76.24% of the company’s stock.

Applied Micro Circuits Corp. Company Profile

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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