As previously reported, Stifel analyst Tore Svanberg upgraded Macom to Hold from Sell after the company announced Stephen Daly as its new President and CEO. Though Svanberg still sees the company facing significant risks - including a challenging environment, China trade tensions, significant debt, and limited free cash flow - he believes Daly brings with him "an impressive track record" of leadership and execution. While awaiting greater clarity into management's longer-term strategy, the analyst raised his price target on Macom shares to $14 from $12.