There's a lot of variability in the way compression testing is done. Done correctly, and I mean a saw that has been run fairly recently, with the engine cold, with a tester that has the valve at the foot, the saw pulled until it stops climbing, and the tester is accurate, then I would be looking at 165psi. At 150psi, that saw is starting to show some ring wear. That doesn't mean it is worn out, or that the ring/piston needs replacing, but its an indication that it does have some significant hours on it.
I would want to pull the muffler and have a look at the piston. If the skirts are shiny, no machining marks present, it would confirm the compression reading.