Ascendiant Capital Markets Feels More Positive About Applied Micro Circuits

In a report published Wednesday, Ascendiant Capital Market analyst Cody G. Acree reiterated a Buy rating and $14.00 price target on

. In the report, Ascendiant Capital Market noted, “We recently had Applied Micro, APM, participate in our Quarterly Management Discussion Series, represented by Paramesh Gopi, CEO, and Doug Aherns, CFO. We came away from our call incrementally more positive that AMCC is on track to meet its targets of shipping material revenue of its X-Gene processor and its X-Weave connectivity solution in the back half of the firm's fiscal year, which would be the December quarter of 2014 or the March quarter of 2015.” Applied Micro Circuits closed on Tuesday at $11.05.