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Raymond James Financial Inc. downgraded Applied Micro Circuits Corporation (NASDAQ:AMCC) to Market Perform in a report released today.

Raymond James Financial Inc. has downgraded Applied Micro Circuits Corporation (NASDAQ:AMCC) to Market Perform in a report released on 11/22/2016.

Just yesterday Applied Micro Circuits Corporation (NASDAQ:AMCC) traded 0.59% higher at $8.10. Applied Micro Circuits Corporation’s 50-day moving average is $6.96 and its 200-day moving average is $6.81. The last closing price is up 24.85% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.03% over the same time period. 714,438 shares of AMCC traded hands, up from an average trading volume of 674,053

Recent Performance Chart

Applied Micro Circuits Corporation (NASDAQ:AMCC)

Applied Micro Circuits Corporation has 52 week low of $4.93 and a 52 week high of $8.55 and has a market capitalization of $0.

In addition to Raymond James Financial Inc. reporting its stock price target, a total of 7 brokers have issued a research note on Applied Micro Circuits Corporation. The 12-month price target is $9.64 with three analysts rating the company a strong buy, two analysts rating the company a buy, five analysts rating the company a hold, zero analysts rating the company a underperform, and lastly zero analysts rating the company a sell.

More About Applied Micro Circuits Corporation (NASDAQ:AMCC)

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 serve Computing and Connectivity markets. Its Computing products include the X-Gene family of server processors, based on the ARMv8 64-bit Instruction Set Architecture (ISA), which target mainstream cloud and data center infrastructure, including hyperscale, telco, enterprise and high performance computing. It also offers embedded computing products, which include HeliX family of processors, based on the ARM 64-bit ISA and its PowerPC products, based on Power Architecture. Its embedded Computing products are deployed in various applications, including networking and telecom, enterprise storage and industrial applications. The Connectivity business includes X-Weave family of products for service providers and public cloud, private cloud and enterprise data centers.

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