Applied Micro Circuits Corporation (AMCC) : Analyst Rating Update

Applied Micro Circuits Corporation (AMCC) : Zacks Investment Research ranks Applied Micro Circuits Corporation (AMCC) as 3, which is a Hold recommendation. 3 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. A total of 4 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 7 research analysts is 2.14, which indicates as a Buy.

Applied Micro Circuits Corporation (AMCC) : Currently there are 6 street experts covering Applied Micro Circuits Corporation (AMCC) stock. The most bullish and bearish price target for the stock is $11 and $6 respectively for the short term. The average price target of all the analysts comes to $8.33. The estimated standard deviation from the target is $2.34.

Applied Micro Circuits Corporation (NASDAQ:AMCC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $6.17 and $6.07 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $6.33. The buying momentum continued till the end and the stock did not give up its gains. It closed at $6.28, notching a gain of 0.64% for the day. The total traded volume was 167,780 . The stock had closed at $6.24 on the previous day.

The company shares have rallied 4.17% from its 1 Year high price. On Nov 18, 2015, the shares registered one year high at $7.68 and the one year low was seen on Aug 21, 2015. The 50-Day Moving Average price is $6.46 and the 200 Day Moving Average price is recorded at $6.11.

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 Companys 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. Its products include the X-Gene ARM 64 bit Server on a Chip solution (X-Gene), along with the X-Weave family of connectivity products, for cloud/hyperscale and enterprise applications. The Company also offers X-Weave family of connectivity products. Data center and enterprise networks continue to deploy computing and storage assets. The Companys data center connectivity technology portfolio, consisting of optical, backplane and short reach copper solutions, provides high-speed connectivity with increased port density.

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