Applied Micro Circuits Stock Gaps Down On Today's Open (AMCC)

NEW YORK ( TheStreet) -- Shares of Applied Micro Circuits Corporation (Nasdaq: AMCC) were gapping down Wednesday morning with an open price 11.5% lower than Tuesday's closing price. The stock closed at $7.83 Tuesday and opened today's trading at $6.93.

The average volume for Applied Micro Circuits has been one million shares per day over the past 30 days. Applied Micro Circuits has a market cap of $500.3 million and is part of the technology sector and electronics industry. Shares are up 16.5% year to date as of the close of trading on Tuesday.

Applied Micro Circuits Corporation, a semiconductor company, together with its subsidiaries, designs, develops, markets, sells, and supports integrated circuits for processing, transporting, and storing information.

TheStreet Ratings rates Applied Micro Circuits as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself. You can view the full Applied Micro Circuits Ratings Report.

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