Nasdaq · RF & optical semis · Laser drivers & TIAs
MACOM Technology
An analog, RF and optical semiconductor maker. It supplies laser drivers and TIAs (transimpedance amplifiers), PAM4 DSP and silicon photonics for 800G/1.6T, the core of transceivers. Q2 FY2026 revenue $289M (+22.5%). With Marvell, an optical-component axis benefiting beneath the transceivers (Coherent, Lumentum).
MTSI Updated Jul 12, 2026 3 AI consumers· 1 recurring
Per the valuechain.wiki graph, MACOM Technology is directly linked to 3 companies (0 supply, 3 revenue relationships) and reaches 6 companies within two hops; the links are backed by 4 dated sources, 1 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · Q2 FY26 revenue $289M (+22.5%)
- Customer concentration · Core components for 800G/1.6T transceivers.
- Segments · Laser drivers/TIAs · RF/microwave · Silicon photonics
Revenue from
- Coherent High confidence
Supplies laser drivers/TIAs to Coherent transceivers — as transceivers move to 800G/1.6T, per-part content grows, so Coherent shipments are the demand.Confirms EN Converge Digest Published Jan 1, 2026: MACOM revenue jumps 23% as AI optical demand accelerates - Lumentum Medium confidence
Supplies laser drivers/TIAs to Lumentum transceivers — tied as a lower-layer part to AI-datacenter optical volumes.Confirms EN Converge Digest Published Jan 1, 2026: MACOM revenue jumps 23% as AI optical demand accelerates - InnoLight Medium confidence
Supplies laser drivers/TIAs to InnoLight transceivers — one of the largest transceiver vendors, a key exposure to the high-speed transition.Confirms EN Converge Digest Published Jan 1, 2026: MACOM revenue jumps 23% as AI optical demand accelerates - Defense · telecom (RF · microwave) Medium confidence
RF/microwave components for defense and telecom.Confirms EN Industrial Analyst Published Jan 1, 2026: AI optical-networking backbone (MACOM laser drivers, TIAs)
Pays to
- Fabs · materials · R&D (undisclosed) Low confidence
Compound-semi fabs, materials and R&D. - manufacturing & capacity expansion (undisclosed) Low confidence
Compound-semi fab capacity.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Eoptolink | lead2 | -10.1 | -27.7 | +136.6 | +197 | +368.8 | +74.9 |
| InnoLight | lead2 | -30.7 | -18.3 | +253.7 | +12 | +468.1 | +68.8 |
| Mitsubishi Electric | lead2 | -8.1 | +2.5 | +58.7 | +19.1 | +91 | +21.3 |
| NVIDIA | lead2 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +13.3 |
| Lumentum | lead1 | +11.6 | -50.7 | +0.5 | +60.1 | +339.1 | +117.6 |
| Coherent | lead1 | -10 | -48.6 | +24 | +117.6 | +94.8 | +75.8 |
| MACOM Technology | node | +42.3 | -19.6 | +47.6 | +39.8 | +31.8 | +80.1 |
YTD as of 2026-07-10 · source: Yahoo Finance
MACOM's thesis is component-content leverage on rising transceiver speeds. As a supplier of the laser drivers and TIAs inside optical transceivers, its content and difficulty per transceiver grow as datacenter optics accelerate from 800G to 1.6T. Tied to transceiver-maker volumes (Coherent, Lumentum, InnoLight), it benefits low in the AI-datacenter optical chain and forms one axis of optical components alongside Marvell. Risks are transceiver-generation timing and silicon-photonics competition. Graph propagation: the three transceiver makers pull demand, while its in-house compound-semiconductor fab is upstream for cost and capacity.
Analysis generated from returns as of 2026-07-09Analyst ratings
Consensus: Buy 3 · Hold 0 · Sell 0 · Avg. target $417 · Price $309.67 (07-11) · Upside +35%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| Stifel Nicolaus | Buy | $450 | Jun 24, 2026 | Report ↗ |
| Evercore ISI · Mark Lipacis | Outperform | $427 | May 19, 2026 | Report ↗ |
| Northland Capital Markets · Tim Savageaux | Outperform | $375 | May 8, 2026 | Report ↗ |
On strong data-center optical demand, Stifel, Evercore ISI and Northland all raised targets (up to $450) in May-June 2026 while maintaining buy-equivalent ratings.