Evercore Group Has Continued Positive Outlook On Applied Micro Circuits
In a report published Thursday, Evercore Group analyst Michael Lucarelli reiterated an Overweight rating and $13.00 price target on Applied Micro Circuits (NASDAQ: AMCC).
In the report, Evercore Group noted, “We hosted meetings the past two days with Doug Ahrens, CFO, and Traci Tsuchiguchi, IR, of Applied Micro (APM). Our thesis remains unchanged that the time to own APM for X-Gene (XG) is over the next 12-18mo when it is the only custom silicon shipping in the market. We look forward to ARM Tech Con (Oct 1-3) where APM plans to host an event in conjunction with the conference.”
Applied Micro Circuits closed on Wednesday at $8.37.
Latest Ratings for AMCC
|Sep 2016||Susquehanna||Initiates Coverage on||Neutral|
|Sep 2016||Roth Capital||Assumes||Buy|
|Nov 2015||Drexel Hamilton||Initiates Coverage on||Buy|
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