Macom price target raised to $160 from $140 at Northland

Northland analyst Tim Savageaux raised the firm’s price target on Macom (MTSI) to $160 from $140 and keeps an Outperform rating on the shares. The price target increase follows “extremely positive” comments from Ciena (CIEN) last week, noting a material increase in business activity since earnings just a few weeks ago, the analyst tells investors in a research note.