Canaccord initiated coverage of Applied Micro Circuits with a "buy" rating and a price target of $16. Analyst Matthew D. Ramsey wrote that Applied Micro "is well positioned as the first vendor the market with 64-bit ARM processors designed specifically for the enterprise server market."
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Separately, TheStreet Ratings team rates APPLIED MICRO CIRCUITS CORP as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate APPLIED MICRO CIRCUITS CORP (AMCC) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall."