Below you can find our list of the 5 best IoT stocks to buy now. For our methodology, discussion of industry trends, and a more comprehensive list please see 14 Best Internet of Things Stocks To Buy Now.
5. Analog Devices, Inc. (NASDAQ:ADI)
No of HFs: 52
Total Value of HF Holdings: $3.64 Billion
Analog Devices, Inc. is ranked as the fifth-best internet of things stock to buy now. The company is a producer of data conversion, signal processing, and power management technology.
The company collaborated with Marvell Technology Group LTD (MRVL) to come up with an advanced 4G/5G radio unit that supports high antenna counts and multi-gigabit per second throughput for both integrated RAN and Open RAN deployments. Raj Singh, Executive Vice President and General Manager of Marvell’s Processor Business Group said that the joint effort will minimize the amount of silicon required to deliver massive MIMO RU solutions,
“Our goal in joining with ADI in this effort was to provide a complete, open standards-based RU platform, one that leverages what each company does best, We wanted to minimize the amount of silicon required to deliver massive MIMO RU solutions capable of supporting 32T32R performance, along with beamforming and DFE functions. ADI’s transceiver solutions align perfectly with our RU and digital unit baseband offerings – it’s exactly what the industry has been seeking in next generation RU designs.”
The top hedge fund holder of this stock is David Blood and Al Gore’s Generation Investment Management, which had over $682 million invested in the stock at the end of September.