Macom price target raised to $115 from $95 at Benchmark

Benchmark raised the firm’s price target on Macom to $115 from $95 and keeps a Buy rating on the shares following the closing of the Wolfspeed RF acquisition and strong design win traction across all end markets. The firm believes the company’s continued execution and differentiated product portfolio will enable sustainable, long term top line growth exceeding 10% with improving earnings power, the analyst tells investors.