Orlando, FL -- (SBWIRE) -- 07/03/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On: Applied Micro Circuits Corporation (NASDAQ:AMCC), Huntington Bancshares Incorporated (NASDAQ:HBAN).
Applied Micro Circuits Corporation(NASDAQ:AMCC) has announced that its CFO, Robert Gargus, will retire, and that Shiva Natarajan, its chief accounting officer, will temporarily take charge.
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Most analysts say that this bit of news doesn’t indicate anything negative. In fact, they are focusing on Applied’s great chances of selling chips into low-powered micro-servers for data centers.
Hans Mosesmann, analyst at Raymond James, has reiterated his Outperform rating on the stock, and upped his price target to $10.50 from $9. “We do not believe this is a reflection of the fundamentals and offers an attractive entry point for investors,” is what he says of the CFO’s departure.
He also draws attention to what Chief Executive Paramesh Gopi said to analysts: “the move was deliberate and a process that was known internally. The move was also timed between various accomplishments, with the company hitting Non-GAAP breakeven in March and transitioning to high-growth for the X-Gene later this year.” X-Gene is the company’s line of micro-server chips.
Meanwhile, shares of Huntington Bancshares Incorporated(NASDAQ:HBAN), a company in the financial sector and banking industry, have hit a new 52-week high. Trading at $8 on Monday, it crossed the previous 52-week high of $7.96 with a volume of 2.2 million. Average trading volume has been 9.6 million shares in the past 30 days.
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Huntington has a market cap of $6.61 billion. It has a P/E ratio of 10.9, well below the S&P 500 P/E of 17.7.
Huntington Bancshares Incorporated is the holding company of The Huntington National Bank, a provider of commercial, small business, and consumer banking services.
TheStreet Ratings has a buy rating on the stock on account of the company's impressive stock price performance, expanding profit margins, high return on equity and attractive valuation, despite the fact that its net income growth is below par.
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