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Why Applied Micro Circuits (AMCC) Stock Might be a Great Pick - Tale of the Tape

Zacks Equity Research

One stock that might be an intriguing choice for investors right now is Applied Micro Circuits Corporation (AMCC). This is because this security in the (industry) space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the electronic semiconductor space as it currently has a Zacks Industry Rank of 62 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Applied Micro Circuits is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

In fact, over the past two months, current quarter estimates have narrowed from a loss of 11 cents/share to a loss of 10 cents/share, while current year estimates have improved from a loss of 35 cents/share to a loss of 32 cents/share. The company currently carries a Zacks Rank #3 (Hold), which is also a favorable signal.

So, if you are looking for a decent pick in a strong industry, consider Applied Micro Circuits. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

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APPLD MICRO CIR (AMCC): Free Stock Analysis Report
 
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Zacks Investment Research