Macom price target raised to $180 from $158 at Truist

Truist analyst William Stein raised the firm’s price target on Macom (MTSI) to $180 from $158 and keeps a Buy rating on the shares. The company delivered “solid” Q3 results and outlook for Q4, as gross profit margin upside counters the result from last quarter, the analyst tells investors in a research note. The firm added that the stock is nominally expensive, but justified by Macom’s execution consistency, base case growth, and upside potential across end markets.