Latest news with #ChrisCaso
Yahoo
3 days ago
- Business
- Yahoo
Wolfe Research Reaffirms Outperform on Micron (MU) After Upbeat Preannouncement
Micron Technology, Inc. (NASDAQ:MU) is one of the On August 11, Wolfe Research analyst Chris Caso reiterated an Outperform rating on the stock with a $160.00 price target. The rating reiteration follows Micron pre-announcing its fiscal Q4 results ahead of a competitor conference. Micron revealed that revenue would be approximately $500 million higher than previously expected, with gross margins about 250 basis points better than previous guidance. Better pricing, particularly in DRAM products, has driven the noted improvements. EPS guidance has been raised from $2.50 to $2.85, with continued demand for data center and AI products. While HBM traction is strong, some investors remain cautious about the second half of the year due to the effect of potential pull-ins on the 2H CY25 outlook and the likelihood that Samsung qualifies on HBM4/Rubin at NVDA. A financial analyst giving a presentation to a group of investors about annuity insurance. 'The positive preannouncement and pricing commentary however indicate – so far, so good. More following the company's presentation. Details. MU updated its previous guidance for its F4Q25, indicating that the midpoint of its revenue guidance is expected to be ~$500mn above its prior expectations, driving an additional ~250bps GM at the midpoint. In addition, MU anticipates OpEx to be a touch above its prior guidance, now $1.22bn (vs prior $1.20bn), driving implied OpM ~280bps higher than previous guidance to ~33.6%. EPS guidance was increased to $2.85 from $2.50. MU noted the revised guidance reflects improved pricing, particularly in DRAM, and strong execution.' Micron Technology, Inc. (NASDAQ:MU) develops and sells memory and storage products for data centers, mobile devices, and various industries worldwide. While we acknowledge the potential of MU 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: and Disclosure: None. Sign in to access your portfolio
CNBC
6 days ago
- Business
- CNBC
We're headed towards the end of semiconductor cyclical inventory correction: Wolfe's Chris Caso
Chris Caso, Wolfe Research senior analyst, joins 'Squawk Box' to discuss the state of the semiconductor sector, fallout from President Trump's plan to charge 15% export taxes on Nvidia and AMD for sending certain chips to China, and more.
CNBC
28-07-2025
- 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
CNBC
08-05-2025
- Business
- CNBC
Trump admin. plans to ease chip curbs: Here's the impact on Nvidia and other chipmakers
Chris Caso, Wolfe Research senior analyst, joins 'Squawk Box' to discuss news of the Trump administration planning to rescind some Biden-era chip curbs on broad tiers of countries in favor of new rules that would focus on direct negotiations with countries, impact on Nvidia and the rest of the semiconductor industry, and more.
