Applied Micro Circuits Corporation (AMCC) has risen sharply, recording gains of 7.14% in the past 4 weeks. However, the stock has corrected -0.98% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 7.37% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
For the current week, the company shares have a recommendation consensus of Buy. The stock has recorded a twenty day Moving Average of 0.69% and the fifty day Moving Average is 4.07%. Applied Micro Circuits Corporation is up 7.14% in the last three month period. Year-to-Date the stock performance stands at 10.68%.
Applied Micro Circuits Corporation (AMCC) has been rated by 4 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $11 and the lowest price target forecast is $6. The average forecast of all the analysts is $8 and the expected standard deviation is $2.45.
Applied Micro Circuits Corporation (NASDAQ:AMCC): On Fridays trading session , Opening price of the stock was $7.15 with an intraday high of $7.17. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $7.03. However, the stock managed to close at $7.05, a loss of 0.98% for the day. On the previous day, the stock had closed at $7.12. The total traded volume of the day was 323,073 shares.
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.