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Evercore Group Has Continued Positive Outlook On Applied Micro Circuits

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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

DateFirmActionFromTo
Aug 2014FBR CapitalDowngradesOutperformMarket Perform
Jul 2014Topeka CapitalMaintainsHold
Apr 2014FBR CapitalMaintainsOutperform

View More Analyst Ratings for AMCC
View the Latest Analyst Ratings

Posted-In: Evercore Group Michael LucarelliAnalyst Color Reiteration Analyst Ratings

 

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