Roth Capital Maintains Buy On Applied Micro Circuits Following Positive Data Release
In a research report issued today, Roth Capital analyst Krishna Shankar maintained a Buy rating on Applied Micro Circuits (NASDAQ:AMCC) with a $14 price target.
Shankar commented: “At the ARM TechCon 2014 conference this week, AMCC had positive data points on XGene production ramp and availability of enterprise grade HP Proliant m400 series servers on HP’s MoonShot platform. AMCC gave positive updates on other potential design wins with customers such as Dell, Cisco, Huawei, multiple Taiwan ODMs, and high-performance computing agencies such as Sandia Labs. We observed positive performance data on XGene server chips in terms of performance and total-cost-of-ownership (TCO) versus Intel Xeon server platforms.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Krishna Shankar has a total average return of 12.7% and a 60.5% success rate. Shankar has a -23.4% average return when recommending AMCC, and is ranked #364 out of 3315 analysts.