Applied Micro Circuits Corporation (NASDAQ:AMCC) stock rose by 12.26%

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Dallas, Texas 07/16/2013 (Financialstrend) – Applied Micro Circuits Corporation (NASDAQ:AMCC) recently set the date for the conference call to its shareholders for the discussion of financial results for the first quarter of fiscal year 2014, to July 24, 2013. The company will release the fiscal first quarter results after the market closes on that day and the conference call will be audio webcast on the same day. Hans Mosesmann of Raymond James recently upgraded the rating of the company to “Strong Buy” from the previous “Outperform”. The target price for the shares of Applied Micro Circuits Corporation has been increased to $13 from the previous level of $10.50 per share.

The company reported negative income of $134.10 million for the last 12 months and sales of $195.60 million. Price to sales and price to cash ratios are 3.27 and 7.48 respectively. Furthermore, return on equity for AMCC was -107.20% and return on assets was -60.60%

Intraday range was from a low price of $9.85 to a high price of $11.13. The share price of Applied Micro Circuits Corporation (NASDAQ:AMCC) closed for the day at $10.62, recording an increase of 12.26%. The low price of Applied Micro Circuits Holdings for the past 52 weeks was $4.28 and the high price was $11.13. The stock opened at the price of $9.97 on Monday with a market capitalization of $721.65 million and 67.95 million outstanding shares. With an institutional ownership of 88%, the trading volume for the day of Applied Micro Circuits Holdings was 3.28 million and the average trading volume was 920,465.00 shares.

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