Oppenheimer Reiterates Outperform Rating for AMCC

Analysts at Oppenheimer maintain their Outperform rating on AppliedMicro (AMCC), as well as their $13 price target, ahead of their earnings report scheduled for Thursday, July 29th. Opeenheimer states, "We acknowledge the inventory concerns pressuring the group, but believe AMCC is uniquely positioned to benefit from long-awaited ramps in OTN and Processor (e.g., MFP, switches and access points)." Applied Micro Circuits Corporation designs, develops, markets, and supports integrated circuits for processing, transporting, and storing of information worldwide.