MACOM Technology Solutions Holdings, a lesser-known semiconductor company benefiting from the accelerating data-center buildout, rose again Friday as Wall Street takes notice.

Shares of MACOM rose 4.7% and have surged 117% over the last year. The broader iShares Semiconductor ETF added 1%, while Broadcom advanced 2.2% and NXP Semiconductors N.V. fell 0.9%.

BMO Capital Markets upgraded MACOM to Outperform from Market Perform Thursday, even as its shares remain 33% below their all-time closing high of $409.68.

BMO is "excited" about MACOM's profit growth being driven by strong demand from artificial-intelligence data centers, while defense market "remains resilient," and that space is set to become a "material contributor" to growth in 2027, analyst Harsh Kumar wrote.

Kumar reiterated BMO's $335 price target for MACOM shares.

Wall Street has issued largely bullish views on MACOM shares in recent weeks, with 12 of the 16 firms polled by FactSet rating the stock a Buy.

Among them, Jefferies issued a price target of $450 for MACOM stock, about 71% above its Thursday closing price of $263.14, following the company's latest earnings in August.

Quarterly revenue rose 36% to $342.2 million-exceeding Wall Street estimates of $336 million, according to FactSet-as net income surged 176% to $100.7 million, MACOM reported last month.

MACOM announced a new suite of microchips Thursday designed to make optical communication inside AI data centers twice as fast as its earlier products. CEO Stephen Daly said the new chips would help deliver peak performance while cutting down on development efforts.

The announcement helped lift MACOM shares 4.5% Thursday, following a 4.8% increase on Wednesday.