You can see it is a TO220 3 lead device with the one leg missing, probably blown off when the die decided to turn to smoke, but not enough pressure to blow the top entirely off.
My old eyes
I'll go with that.
I offer this next insight to the original poster. I don't know everything about the DW707, but I tried to research it to the extent that I could.
It appears to be a single speed saw, 240VAC. You mentioned
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It is on the small PCB which adjusts the rotation speed of the Dewalt 707 miter saw.
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Just for the sake of argument, let's say it is actually a single speed saw.
Now the mystery device can become a half wave rectifier, which in a lot of simple designs is used in the NC part of the trigger switch (they are two pole SPST -- one pole NO, the other NC).
When you press the trigger switch the rectifier is disconnected from the stator and the motor starts and spins up normally.
When you release the trigger the diode is reconnected to the stator, and the magnetic remanence field is rectified as the stator sets up a magnetic field via rectification in the diode. It's not the fanciest way to provide "regenerative" braking, but it can slow down the armature a lot faster than otherwise, and based on the numerous patents and prior art referenced in the patents, I suggest that you may be looking at a remanence brake component, which *could* just be a half wave rectifier.
Dewalt doesn't provide an electrical schematic of their saws generally, but if you search patents online, there are a lot of examples where patents have been issued to Black and Decker (Dewalt) and other tool manufacturers that leverage the technology and some really elaborate and simple ways (some with multiple diodes, transistors, FETs, and other passive components like capacitors and so on.)
All the way back in the 1960s, one of the first (if not THE first company) to use an electronic brake in a saw was actually Rockwell:
https://en.wikipedia.org/wiki/Electric_motor_brakeHope this helps.
Good day to all!