Macquarie Group Ltd. increased its position in Applied Micro Circuits Corp. (NASDAQ:AMCC) by 36.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,713,104 shares of the company’s stock after buying an additional 719,568 shares during the period. Macquarie Group Ltd. owned approximately 3.18% of Applied Micro Circuits Corp. worth $17,418,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Jane Street Group LLC increased its stake in Applied Micro Circuits Corp. by 49.3% in the second quarter. Jane Street Group LLC now owns 16,655 shares of the company’s stock worth $107,000 after buying an additional 5,503 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Applied Micro Circuits Corp. by 2,462.9% in the second quarter. Tower Research Capital LLC TRC now owns 16,915 shares of the company’s stock valued at $109,000 after buying an additional 16,255 shares during the period. Stifel Financial Corp raised its position in shares of Applied Micro Circuits Corp. by 6.6% in the second quarter. Stifel Financial Corp now owns 20,250 shares of the company’s stock valued at $130,000 after buying an additional 1,250 shares during the period. Quantitative Investment Management LLC acquired a new position in shares of Applied Micro Circuits Corp. during the second quarter valued at approximately $156,000. Finally, Barclays PLC raised its position in shares of Applied Micro Circuits Corp. by 5,207.5% in the second quarter. Barclays PLC now owns 25,423 shares of the company’s stock valued at $164,000 after buying an additional 24,944 shares during the period. Institutional investors own 76.06% of the company’s stock.

Institutional Ownership by Quarter for Applied Micro Circuits Corp. (NASDAQ:AMCC)

Applied Micro Circuits Corp. (NASDAQ:AMCC) traded up 0.59% during mid-day trading on Friday, reaching $8.50. 714,438 shares of the company’s stock traded hands. The firm’s market cap is $734.85 million. Applied Micro Circuits Corp. has a 1-year low of $4.93 and a 1-year high of $8.55. The firm has a 50 day moving average of $6.96 and a 200 day moving average of $6.81.

Applied Micro Circuits Corp. (NASDAQ:AMCC) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.03. Applied Micro Circuits Corp. had a negative net margin of 19.57% and a negative return on equity of 28.45%. The firm had revenue of $41.80 million for the quarter, compared to analyst estimates of $41.59 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. Analysts forecast that Applied Micro Circuits Corp. will post $0.03 EPS for the current year.

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AMCC has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Applied Micro Circuits Corp. from a “sell” rating to a “hold” rating and set a $8.25 price target on the stock in a research note on Tuesday, November 1st. Roth Capital initiated coverage on shares of Applied Micro Circuits Corp. in a research note on Thursday, September 1st. They set a “buy” rating and a $8.00 price target on the stock. Susquehanna initiated coverage on shares of Applied Micro Circuits Corp. in a research note on Tuesday, September 20th. They set a “neutral” rating and a $8.00 price target on the stock. Canaccord Genuity lowered shares of Applied Micro Circuits Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, November 22nd. Finally, Drexel Hamilton lowered shares of Applied Micro Circuits Corp. from a “buy” rating to a “hold” rating in a research note on Monday, November 21st. Ten research analysts have rated the stock with a hold rating, Applied Micro Circuits Corp. presently has an average rating of “Hold” and a consensus price target of $7.82.

About Applied Micro Circuits Corp.

Applied Micro Circuits Corporation (AMCC) provides silicon solutions for cloud infrastructure and data centers, as well as connectivity products for edge, metro and long haul communications equipment. The Company’s products serve Computing and Connectivity markets. Its Computing products include the X-Gene family of server processors, based on the ARMv8 64-bit Instruction Set Architecture (ISA), which target mainstream cloud and data center infrastructure, including hyperscale, telco, enterprise and high performance computing.

5 Day Chart for NASDAQ:AMCC

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