5 Best Income Stocks To Invest In

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

Number of Hedge Fund Holders: 75

Analog Devices, Inc. (NASDAQ:ADI) specializes in semiconductor manufacturing and data conversion. The company has raised its dividend 20 times in the past 19 years, which makes it one of the best dividend stocks on our list. It currently pays a quarterly dividend of $0.86 per share for a dividend yield of 1.90%, as of April 25.

The number of hedge funds tracked by Insider Monkey owning stakes in Analog Devices, Inc. (NASDAQ:ADI) grew to 75 in Q4 2022, from 66 a quarter earlier. These stakes have a collective value of roughly $5 billion.

Giverny Capital mentioned Analog Devices, Inc. (NASDAQ:ADI) in its Q4 2022 investor letter. Here is what the firm has to say:

“Ashtead Group and Analog Devices, Inc. (NASDAQ:ADI) were new purchases, made in May. They both performed well from our original purchase prices and I believe we upgraded the quality of our portfolio by adding them.

We established four new positions during the year, each of about 2%: Analog Devices, Ashtead Group, Floor & Décor, and Installed Building Products. We discussed these in prior letters and I’m pleased to report that Ashtead and Analog were among our best performing positions for the year.”