10 Best Large Cap Tech Stocks to Buy Now

6. Analog Devices Inc. (NASDAQ:ADI)

Market Cap: $110.7 Billion

Potential Upside: 21%

Number of Hedge Fund Holders: 79

Analog Devices Inc. (NASDAQ:ADI) is one of the best large-cap tech stocks to buy now. In mid-July, Tore Svanberg, an analyst at Stifel Nicolaus, raised his price target on Analog Devices to $270 from $248 while reiterating a Buy rating. In his view, the prolonged inventory correction across the semiconductor sector over the past two years has likely reached its trough, setting the stage for a cyclical rebound. However, it is difficult to gauge how quickly the rebound will unfold.

Within this report, Svanberg also communicated his broader sector outlook, which continues to favour AI-linked semiconductor names. He expects the AI-focused companies under his coverage to post median revenue growth of 32% in 2025 and 17% in 2026, thus underscoring the structural demand tailwinds in this space. Within that context, Analog Devices is seen as well-positioned to benefit from the upturn, supporting the case for maintaining an overweight stance in AI-driven chipmakers.

On July 25, Christopher Danely from Citi had also published his latest report, where he maintained a Buy rating on Analog Devices, with a price target of $290.

While analysts remain confident in the company, it is worth noting the positive perspective shared by Kovitz Investment Group Partners in its Q2 2025 “Kovitz Core Equity Strategy” investor letter. The firm cited several reasons for its long-term optimism on Analog Devices, including its leadership in key markets, robust 70% gross margins that help offset tariff impacts, and an irreplaceable talent pool of 11,000 experienced analog engineers. With the stock currently at an appealing valuation, Kovitz’s portfolio managers believe that it offers a compelling opportunity for investors over the next five to seven years.

The company is expected to report its Q3 2025 results on August 20.

Analog Devices Inc. (NASDAQ:ADI) is a semiconductor company that designs, manufactures, tests, and markets a broad portfolio of solutions using high-performance analog, mixed-signal, and digital signal processing technologies.