Applied Micro Circuits Stock Falls On Unusually High Volume (AMCC)

NEW YORK ( TheStreet) -- Applied Micro Circuits Corporation (Nasdaq: AMCC) is trading at unusually high volume Friday with 3.5 million shares changing hands. It is currently at 4.1 times its average daily volume and trading down $1.44 (-18.6%) at $6.32 as of 1:21 p.m. ET.

Applied Micro Circuits has a market cap of $510.5 million and is part of the technology sector and electronics industry. Shares are down 27.3% year to date as of the close of trading on Thursday.

Applied Micro Circuits Corporation designs, develops, markets, and supports integrated circuits for processing, transporting, and storing of information worldwide.

TheStreet Ratings rates Applied Micro Circuits as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and weak operating cash flow. You can view the full Applied Micro Circuits Ratings Report.

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