5 Best Semiconductor Stocks To Buy For The AI Boom

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

Number of Hedge Fund Holders: 73

Analog Devices, Inc. (NASDAQ:ADI) was seen in the portfolios of 73 hedge funds at the end of the first quarter, with a total stake value of $4.9 billion.

A Positive rating was reiterated on Analog Devices, Inc. (NASDAQ:ADI) shares on June 13 by Christopher Rolland at Susquehanna, who also holds a $215 price target on the stock.

Analog Devices, Inc. (NASDAQ:ADI) is a semiconductor company working on data conversion, signal processing, and power management tech. It is based in Wilmington, Massachusetts, and is offering a new line of AI microcontrollers that run AI inferences much faster than other solutions.

First Pacific Advisors mentioned Analog Devices, Inc. (NASDAQ:ADI) in its first-quarter 2023 investor letter:

“Analog Devices, Inc. (NASDAQ:ADI) stock price declined in the first half of 2022, along with its semiconductor peers. That sector has since rebounded, lifting ADI with it. We believe ADI is a well-run company and a secular grower, which should augur well for its future. However, given that it operates in a cyclical industry, we will not be surprised when its shares periodically trade down.”