Applied Micro Circuits Corporation (AMCC) : Traders are bullish on Applied Micro Circuits Corporation (AMCC) as it has outperformed the S&P 500 by a wide margin of 4.33% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.17%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.62% in the last 1 week, and is up 6.92% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Applied Micro Circuits Corporation (NASDAQ:AMCC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $6.82 and $6.82 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $7.00. The buying momentum continued till the end and the stock did not give up its gains. It closed at $6.95, notching a gain of 2.21% for the day. The total traded volume was 414,285 . The stock had closed at $6.80 on the previous day.
The stock has recorded a 20-day Moving Average of 1.56% and the 50-Day Moving Average is 4.63%. Applied Micro Circuits Corporation is up 14.12% in the last 3-month period. Year-to-Date the stock performance stands at 9.11%.
Applied Micro Circuits Corporation (AMCC) : The highest short term price target forecast on Applied Micro Circuits Corporation (AMCC) is $11 and the lowest target price is $6. A total of 4 equity analysts are currently covering the company. The average price of all the analysts is $8 with a standard deviation of $2.45.
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.