Applied Micro Circuits downgraded to Market Perform at FBR Capital FBR Capital downgraded Applied Micro Circuits to Market Perform from Outperform citing weakness in the company's core business. The firm also believes consensus estimates for X-Gene's revenue contribution are too optimistic. FBR lowered its price target for shares to $10 from $11.
Applied Micro Circuits fundamentals improving, says Roth Capital Roth Capital believes that the fundamentals of Applied Micro's connectivity and embedded business are improving. The firm is upbeat on the company's ARM-based 64-bit XGene server platforms and keeps a Buy rating on the shares.