Macom price target raised to $75 from $70 at Northland

Northland analyst Tim Savageaux raised the firm’s price target on Macom to $75 from $70 and keeps a Market Perform rating on the shares following a “mixed” Q1 report. While Datacom IC revenues were strong, a weaker outlook and overall book to bill of 0.91 drive an organic outlook below expectations and this outlook is “unlikely to support recent share price strength and premium valuation metrics,” the analyst tells investors in a post-earnings note.