Macom price target raised to $120 from $95 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Macom to $120 from $95 and keeps a Buy rating on the shares. Macom reported good Q2 results and guided Q3 results slightly above consensus, the analyst tells investors in a research note. The firm thinks Macom’s telecom business has bottomed and that datacenter is growing, offset by some continuing weakness in industrial, while defense remains solid.