Market Overview

Evercore Group Remains Positive On Applied Micro Circuits

Share:

In a report published Wednesday, Evercore Group analyst Michael Lucarelli reiterated an Overweight rating and $15.00 price target on Applied Micro Circuits (NASDAQ: AMCC).

In the report, Evercore Group noted, “We view the announcement that APM and NVDA are combining forces with X-Gene + Tesla to target the High Performance Computing (HPC) market as an incremental positive and a proof point that X-Gene is not just a microserver CPU. We see the HPC market as a TAM expander that is additive to the list of original target markets (OEM, Cloud, Networking). This increases our confidence of mgmt meeting its goal of meaningful X-Gene revenues in F2H15.

"We reiterate our thesis that X-Gene, with its differentiated features in (1) brawny cores, (2) integrated I/O, and (3) superior memory bandwidth, is very well positioned to take advantage of its window of opportunity over the next 12-18mo as the only custom silicon in the market.”

Applied Micro Circuits closed on Tuesday at $11.02.

Latest Ratings for AMCC

DateFirmActionFromTo
Nov 2016DowngradesStrong BuyMarket Perform
Nov 2016DowngradesBuyHold
Sep 2016Initiates Coverage onNeutral

View More Analyst Ratings for AMCC
View the Latest Analyst Ratings

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

 

Related Articles (AMCC)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
WUBABOCOM InternationalDowngrades
DLTROTR GlobalUpgrades
ARCCCompass PointDowngrades
GTYHCitiInitiates Coverage On7.0
NKEGuggenheimMaintains100.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

UPDATE: Bank Of America Upgrades Restoration Hardware On Unique Growth Story

Benzinga's Top Downgrades