Macom price target raised to $115 from $100 at Piper Sandler

Piper Sandler analyst Harsh Kumar raised the firm’s price target on Macom (MTSI) to $115 from $100 and keeps a Neutral rating on the shares. The firm views AI compute driving the incremental growth amongst semiconductor end markets while analog and mobile-oriented names lag fundamentally. Piper told investors Macom is “extremely well positioned” for the remainder of 2024 and through the first half of 2025. The firm potentially sees a recovery in the company’s industrial portfolio happening in 2025.