Applied Micro Circuits Corporation June 15th Short Interest Update

Applied Micro Circuits Corporation (NASDAQ:AMCC) encountered a rise of 0.7% or 49,225 shares in the short positions. The number escalated from 7,420,261 on May 31,2016 to 7,469,486 on June 15,2016. The final interest is 9.1% of the floated stock. The days to cover figure of 17 can be arrived using the average daily exchange of 440,785 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Applied Micro Circuits Corporation (NASDAQ:AMCC): The stock opened at $6.23 on Friday but the bulls could not build on the opening and the stock topped out at $6.41 for the day. The stock traded down to $6.08 during the day, due to lack of any buying support eventually closed down at $6.19 with a loss of -6.07% for the day. The stock had closed at $6.59 on the previous day. The total traded volume was 2,465,162 shares.

The company shares have dropped -9.50% 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 $6.44 and the 200 Day Moving Average price is recorded at $6.14.

Applied Micro Circuits Corporation (NASDAQ:AMCC) has tumbled 4.48% during the past week and has dropped 5.93% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 2.89%. Applied Micro Circuits Corporation (NASDAQ:AMCC) has underperformed the index by 3.08% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

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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