5 Best Dividend Stocks According to British-Irish Billionaire John Armitage

4. Analog Devices, Inc. (NASDAQ:ADI)

Number of Hedge Fund Holders: 67
Dividend Yield as of May 26: 1.84%
Egerton Capital’s Stake Value: $615,903,000

Analog Devices, Inc. (NASDAQ:ADI) is an American multinational semiconductor manufacturing company. At the end of Q1 2022, Egerton Capital held shares of the company worth approximately $616 million, after increasing its position by 20%. The company represented 3.24% of John Armitage’s portfolio.

In February, Analog Devices, Inc. (NASDAQ:ADI) announced a 10% hike in its quarterly dividend to $0.76 per share, which was the company’s 19^th consecutive dividend raise in the last 18 years. The stock’s dividend yield, as of May 25, was recorded at 1.84%.

As per Insider Monkey’s Q1 2022 database, 67 hedge funds held stakes in Analog Devices, Inc. (NASDAQ:ADI), down from 72 in the previous quarter. These stakes hold a consolidated value of over $4.8 billion.

Madison Funds mentioned Analog Devices, Inc. (NASDAQ:ADI) in its Q3 2021 investor letter. Here is what the firm has to say:

“At its 2017 investor day, Analog Device’s VP of Automotive, Mark Gill, described how the company’s content on well-equipped electric vehicles was $600 per car compared to $250 per car for the traditional 2017 internal combustion engine car. Since then, Analog has highlighted the success of its EV battery management systems (BMS) product nearly every quarter. The BMS product is hardware and software that manages the power into and out of the battery systems. It’s the brains of the operation. Analog says it’s on its fifth generation BMS product, that it has the no. 1 market share in high voltage products, and that it is on 5 of the top 10 selling EVs. While we think that the BMS product is just 1 to 1.5% of Analog Devices, Inc. (NASDAQ:ADI)’s product mix, we think that it could add nearly a point of revenue growth per year to the company’s top-line given the expected ramp in EV production. This is a material amount of growth atop an already nicely growing company revenue line.”