Susquehanna starts Macom at Neutral on ‘elevated’ valuation

Susquehanna initiated coverage of Macom (MTSI) with a Neutral rating and $200 price target The company is well positioned across multiple long-term growth vectors gave its “differentiated” compound semiconductor capabilities in gallium arsenide, gallium nitride, and indium phosphide, the analyst tells investors in a research note. However, Susquehanna cites Macom’s “elevated” valuation” for the Neutral rating.