5 Best Tech Stocks to Buy Now According to Nishkama Capital

In this article, we present the list of the 5 best tech stocks to buy now according to Nishkama Capital. For our methodology and a more comprehensive list please see 10 Best Tech Stocks to Buy Now According to Nishkama Capital.

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

Analog Devices, Inc. (NASDAQ:ADI) is first up on the second half of our list of Nishkama Capital’s favorite tech stocks. The fund owned 69,797 ADI shares on September 30, a 78% jump from the end of June and with the holding valued at $11.69 million at the end of Q3. There’s been a three-fold increase in hedge fund ownership of Analog Devices over the past three years.

Madison Funds, an investment management firm, published its “Madison Investors Fund” third-quarter 2021 investor letter and highlighted Analog Devices, Inc. (NASDAQ:ADI). Here‘s what the fund said:

“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’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.”