Latest news with #Caso
CNBC
2 days ago
- Business
- CNBC
Wolfe Research upgrades Texas Instruments to outperform, sees cyclical recovery ahead
Wolfe Research is ready to jump back into Texas Instruments . The investment firm upgraded the semiconductor stock to an outperform rating from peer perform. Analyst Chris Caso accompanied the move by also establishing a price target of $230, implying an upside of 24% from the stock's Friday close. Shares of Texas Instruments are down 1% this year. Caso noted that Texas Instruments has "significantly underperformed" stock benchmarks since early 2022, when it introduced a multiyear capital expenditures expansion plan. TXN YTD mountain TXN YTD chart Now, however, the company is also nearing the end of its multiyear capital expenditures cycle. This could soon begin driving free cash flow and gross margin growth. "TXN's accelerated investment cycle is nearing an end — CapEx is expected to drop to $2-5bn in CY26 from $5bn/yr 2023-2025. Spending in CY27 will depend on expected revenue growth. We note that TXN's CapEx was accelerated in order to take advantage of US govt incentives (Chips Act grants and tax credits), which end in 2026," Caso wrote. "We anticipate that TXN's FCF of ~$2bn in CY24 (including $588mn cash benefit from ITC credit) will rise to > $9bn by CY27." Caso also expects the analog chip industry is on the cusp of a cyclical recovery, with Texas Instruments positioned to benefit. "Customers appear to have stopped cutting inventory, a signal in our view that the upcycle is likely to emerge in short order," the analyst added.
Yahoo
17-06-2025
- Business
- Yahoo
Wolfe Research Lowers Analog Devices (ADI) Price Target, Keeps Outperform Rating
Analog Devices, Inc. (NASDAQ:ADI) is one of the 10 Best American Semiconductor Stocks to Buy Now. On May 22, Wolfe Research reduced its price target for Analog Devices, Inc. (NASDAQ:ADI) from $295 to $280 but kept an 'Outperform' rating. The firm's analyst, Chris Caso, explained that the reduced price target is based on a valuation of about 28 times Analog Devices, Inc.'s (NASDAQ:ADI) expected EPS of around $10. This is a slight increase from the company's historical average multiple of 27 times. A technician working on power management in a semiconductor factory. Wolfe Research continues to have a positive outlook for Analog Devices, Inc. (NASDAQ:ADI) despite the reduced price target. Following the company's fiscal second quarter 2025 financial results, the analyst slightly increased the EPS forecast for the 2026 fiscal year to $9.15 per share. The forecast for calendar year 2026 is $9.60 per share, which is close to the firm's long-standing expectation that Analog Devices, Inc. (NASDAQ:ADI) can reach $10 EPS. Caso noted that Analog Devices, Inc. (NASDAQ:ADI) is trading at about 22 times its expected earnings power, which is seen as reasonable. However, for the stock price to grow steadily, the company will need to show a higher earnings power. Analog Devices, Inc. (NASDAQ:ADI) is an American multinational semiconductor company that focuses on data conversion, signal processing, and power management technologies. While we acknowledge the potential of ADI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 11 Stocks That Will Bounce Back According To Analysts and 11 Best Stocks Under $15 to Buy According to Hedge Funds. Disclosure: None. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
10-06-2025
- Politics
- Yahoo
States sue to block Trump administration plan to distribute machine-gun conversion devices
Caso's Gun-A-Rama in Jersey City, New Jersey, has been open since 1967. (Photo by Aristide Economopoulos/NJ Monitor) Attorneys general in 16 jurisdictions sued Monday to block a Trump administration plan to redistribute thousands of devices that convert guns to machine guns, including distribution in states where such devices are banned by state law. The lawsuit, filed in U.S. District Court in Maryland, said the plan would not only expose residents of those states to greater amounts of deadly violence, but it would be contrary to federal law that calls for the seizure of machine-gun conversion devices. And it would cause federal officials to 'aid and abet violations of state law' by distributing the devices in states where they are outlawed, the suit said. The decision to return almost 12,000 forced reset triggers — which allow shooters to fire hundreds of rounds a minute with one pull of the trigger — was announced in a settlement last month between the Bureau of Alcohol, Tobacco, Firearms and Explosives and gun manufacturers and gun-rights groups. 'These devices enable firearms to fire up to 900 bullets per minute. The increased rate of fire allows carnage and chaos to reign on the streets,' said Maryland Attorney General Anthony Brown in a virtual press briefing Monday with fellow Democrats, New Jersey Attorney General Matthew Platkin and Delaware Attorney General Kathy Jennings. 'Everyone nearby becomes vulnerable to serious injury or death. These are battlefield weapons that have no place in our communities,' Brown said. Under the Biden administration, ATF classified forced reset triggers as 'prohibited machine guns under federal law … and conducted extensive retrieval operations, seizing nearly 12,000 FRTs from the field,' according to the lawsuit. But the new administration reversed course after a Feb. 7 executive order from President Donald Trump on 'Protecting Second Amendment Rights.' On May 16, the Justice Department announced a settlement with Rare Breed Triggers, a manufacturer of the devices based in Wichita City, Texas. Under the deal, the company agreed not to develop or design such triggers for handguns, to promote safe and responsible use of its products, and to enforce its patents to 'prevent infringement that could threaten public safety.' In exchange, the government agreed not to enforce any policy where an FRT is 'contended to be' a machine gun, and to return by Sept. 30 any reset triggers seized or 'taken as a result of a voluntary surrender.' 'We won,' Lawrence DeMonico, president of Rare Breed Triggers, said in a video posted online the day settlement was announced. 'With the Trump administration's renewed focused on justice and their commitment to correcting the weaponization of the DOJ under the Biden administration, we were finally able to secure a deal that brought this fight to a close.' Representatives with Rare Breed Triggers and the Justice Department did not respond to email requests for comment Monday. The National Association of Gun Rights, which was also a party to the settlement, said it a statement that the deal will survive any challenge from the 'anti-gun attorneys general.' 'A federal court already ruled the government unlawfully seized thousands of legal triggers from law-abiding Americans — a decision that the ATF now acknowledges and accepts,' said Hannah Hill, vice president for the association. 'These states lack standing to file this lawsuit, and they know it. This suit is just reckless political lawfare.' But the states' lawsuit highlights the impact of gun violence in their jurisdictions, where it said there were nearly 47,000 gun-related deaths in 2023. Illinois had the most such deaths that year, at 1,691. Of the states represented at Mondays briefing, Maryland recorded 737 gun-related deaths in 2023, New Jersey had 430 and Delaware had 124, according to the suit. The suit also spells out the financial burden that comes with gun violence, for medical bills, police, court and prison costs. It said one fatal shooting in Baltimore can cost $2.4 million and a nonfatal shooting costs $1.5 million. In Newark, New Jersey, the cost is nearly $2.2 million for a fatal shooting and $1 million for a nonfatal shooting. 'This is not a partisan issue. It is a public safety issue,' Delaware's Jennings said. 'The Trump administration's deal to redistribute these deadly devices violates the law, full stop. It undermines public safety and ties the hand of law enforcement.' Platkin recalled the shooting death in March 2022, just two months after he took office, of SeQuoya Bacon-Jones, who was a bystander to a shooting when she was struck and killed. Platkin said SeQuoya would have celebrated her 13th birthday last Saturday. 'She had dreamed of becoming a law enforcement officer, but instead she was killed by a single stray bullet while she was playing hide-and-seek in the courtyard of her apartment complex,' Platkin said. 'I wish the Trump administration … would put little kids like Sequoya's interests ahead of the gun lobby's. But since they don't seem to care, we're going to make them care.' Besides Maryland, Delaware and New Jersey, other jurisdictions on the suit are the District of Columbia and the states of Colorado, Hawaii, Illinois, Maine, Massachusetts, Michigan, Minnesota, Nevada, Oregon, Rhode Island, Vermont and Washington. All but Maine and Vermont currently have state laws prohibiting forced reset triggers or guns modified with them. This story was originally published by Maryland Matters. Like Maine Morning Star, Maryland Matters is part of States Newsroom, a nonprofit news network supported by grants and a coalition of donors as a 501c(3) public charity. Maryland Matters maintains editorial independence. Contact Editor Steve Crane for questions: editor@ SUPPORT: YOU MAKE OUR WORK POSSIBLE
Yahoo
30-05-2025
- General
- Yahoo
Citing ongoing lawsuit, committee opts to defer proposals to alter Maine's 72-hour waiting period
Guns are shown at Caso's Gun-A-Rama in Jersey City, New Jersey, which has been open since 1967. (Photo by Aristide Economopoulos/NJ Monitor) Maine lawmakers will wait to take action on proposed legislation regarding the state's 72-hour waiting period for firearm purchases. The Legislature's Judiciary Committee unanimously voted to carry over LD 208, a proposal from House Minority Leader Billy Bob Faulkingham (R-Winter Harbor) to repeal the law passed just last year that requires someone who sells a firearm to wait three days before delivering it to the buyer. However, the committee was divided on whether to carry over an identical bill, LD 1230, with Democrats voting in support and Republicans opposed. The votes taken Friday were not an absolute, but rather a request of the presiding officers who have the final say on what will be carried over. After the waiting period took effect in August, opponents filed a lawsuit in November claiming it violates the Second Amendment rights of people who have passed background checks. Earlier this year, a U.S. District Court judge sided with the gun rights advocates and temporarily paused the waiting period. Maine Attorney General Aaron Frey appealed the decision, but a federal appeals court last week refused to reinstate the waiting period while the lawsuit unfolds. Over the past few weeks, Senate co-chair Anne Carney (D-Cumberland) encouraged the committee to carry over Faulkingham's bill and kill the other proposal to streamline the committee's work and allow time for the legal process to play out before making any changes. However, multiple Republicans on the committee said they did not want their names on the record as voting against the bill. 'I'm not going to have my name on that report and follow me forever,' said Rep. Jennifer Poirier (R-Skowhegan), though she agreed it's important to carry over one of the bills in case changes need to be made. Stuck at a stalemate, Carney suggested Friday that the committee vote to carry over both bills, but Republicans also raised concerns with this approach. Committees are only allowed to carry over a limited number of bills from the first to second session, so some Republicans were concerned carrying over identical proposals would waste one of those slots and lead to Senate president and speaker of the House of Representatives killing one of the bills. 'Why can't we have a conversation on the floor?' asked Rep. Rachel Henderson (R-Rumford), encouraging the committee to advance LD 1230 this session Rep. Adam Lee (D-Auburn), who voted to carry over both proposals, said his understanding was that the committee decided to not work on either bill while the lawsuit is ongoing. Since the committee hasn't fully workshopped the bills, Lee said sending one to the chamber floors wouldn't make sense. SUPPORT: YOU MAKE OUR WORK POSSIBLE
Yahoo
20-05-2025
- Politics
- Yahoo
Washingtonians will need state permit to buy guns under new law
Guns are shown at Caso's Gun-A-Rama in Jersey City, New Jersey, which has been open since 1967. (Photo by Aristide Economopoulos/NJ Monitor) Washington Gov. Bob Ferguson on Tuesday signed into law a controversial policy requiring gun buyers to first pay for a new state permit. Starting in two years, House Bill 1163 will require those interested in purchasing guns to apply for a five-year permit through the Washington State Patrol. Applicants must pay a fee and have completed a certified firearms safety training program within the past five years, with limited exceptions. 'Gun violence in Washington state breaks apart too many families and kills too many children,' Ferguson said. 'We must put commonsense reforms into place that save lives.' Ferguson, a Democrat, advocated for gun control in his three terms as Washington's attorney general. The permit system, set to take effect on May 1, 2027, goes beyond the state's existing background checks, which also require proof of completion of a firearm safety course. Washington also has a 10-day waiting period after a gun dealer requests a background check before they can hand over the gun. State authorities will have to approve one of these new permits if the applicant meets the criteria, as long as they aren't the subject of an arrest warrant or barred from having guns in the first place. The state patrol must issue the permit within 30 days, or 60 days if the applicant doesn't have a state identification card. If an applicant feels the state wrongly denied them a permit, they can appeal in court. The state patrol expects the new program will cost just over $20 million in the 2027-29 budget cycle. Fees collected for fingerprinting and background checks would offset the cost. The system could bring in over $35 million in the 2027-29 biennium, according to the latest fiscal analysis. The measure passed the Legislature along party lines, with Democrats in support. Democrats say the law will strengthen the state's efforts to limit gun violence and suicides. The bill's prime sponsor, Rep. Liz Berry, D-Seattle, said the law has been a decade in the making. 'I am a mom of two young kids, and I'm someone who has lost someone I love to gun violence,' she said Tuesday. 'This bill is transformative for our state, and we're not done. We've got more to do.' Republicans and gun owners counter that the law is an unconstitutional barrier to the right to bear arms, which is embedded in the state and U.S. constitutions. Some critics insist the law will face court challenges in light of a U.S. Supreme Court ruling in 2022 in which the justices ruled new gun laws need to be aligned with the nation's 'historical tradition of firearm regulation.' About a dozen other states have such permit-to-purchase systems. Courts across the country have largely upheld them. This month, the state Supreme Court upheld a similarly divisive ban on the sale of high-capacity ammunition magazines in a 7-2 ruling, but didn't grapple with whether Washington's law stayed true to the historical tradition. Opponents of that law vowed to ask the U.S. Supreme Court to weigh in on Second Amendment grounds. The new permit-to-purchase law was the primary piece of gun control legislation lawmakers approved in Olympia this year. Failed measures would have restricted bulk purchases of ammunition and firearms, imposed an excise tax on firearm and ammunition sales, added new requirements for weapons dealers and further limited the public places where people can carry firearms.
