UPDATE: Oppenheimer Downgrades AppliedMicro to Perform

According to Oppenheimer, AppliedMicro

is downgraded to Perform. Oppenheimer said that it is downgrading shares of AMCC to Perform from Outperform and removing its $10 PT. “We appreciate the promise of AMCC's new 64-bit ARM processor products in the pipeline, and believe AMCC has held OTN share; however, catalysts. AppliedMicro closed yesterday at $7.83.