Evercore ISI boosts Macom price target, says there is further upside

Evercore ISI analyst Mark Lipacis raised the firm’s price target on Macom (MTSI) to $275 from $202 and keeps an Outperform rating on the shares after Q1 results. The firm thinks there is further upside despite shares being up 30% year-to-date. Evercore added that Macom remains its top SMID analog pick. Macom offers one of the best product cycles in semiconductors across data center, telecommunications and defense, the firm told investors in a research note.