Applied Micro Circuits Corporation (AMCC) is Downgraded by ROTH Capital to Neutral

Applied Micro Circuits Corporation (AMCC) was Downgraded by ROTH Capital to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. ROTH Capital advised their investors in a research report released on Nov 21, 2016.

Many Wall Street Analysts have commented on Applied Micro Circuits Corporation. Applied Micro Circuits Corporation was Initiated by Susquehanna to “Neutral” on Sep 20, 2016. Applied Micro Circuits Corporation was Resumed by ROTH Capital to “Buy” on Sep 1, 2016.

On the company’s financial health, Applied Micro Circuits Corporation reported $0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $-0.01. The company had revenue of $41.80 million for the quarter, compared to analysts expectations of $41.58 million. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.03 EPS.

Applied Micro Circuits Corporation (AMCC) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $7.3 and reached the intraday high at $7.4. The bulls started the profit booking and pushed the shares to intraday low of $7.2. The trading session was marked by a volume range of 5,41,386 shares exchanging hands. The 52-week high of the shares is $7.68 and the 52-week low is $4.93. The market cap of the company stands at $627 M and there are 8,64,53,313 shares in public circulation.

In a different news, on Aug 12, 2015, Douglas T Ahrens (Vice President and CFO) sold 4,000 shares at $6.48 per share price. According to the SEC, on Feb 25, 2015, Paramesh Gopi (CEO) purchased 10,000 shares at $4.95 per share price. On Feb 24, 2015, L. William Caraccio (VP General Counsel) purchased 3,000 shares at $4.67 per share price, according to the Form-4 filing with the securities and exchange commission.

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 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 Company’s data center connectivity technology portfolio consisting of optical backplane and short reach copper solutions provides high-speed connectivity with increased port density.

Applied Micro Circuits Corporation

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