5 High Growth Semiconductor Stocks that are Profitable

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

Q/Q Sales Growth: 38.8%

Number of Hedge Fund Holders in Q3 2022: 66

Analog Devices, Inc. (NASDAQ:ADI) focuses its efforts on designing and selling data conversion products. These chips, called digital signals processors, are used in different gadgets such as smartphones. The company is based in Wilmington, Massachusetts.

Analog Devices, Inc. (NASDAQ:ADI)’s first fiscal quarter earnings, reported in February 2023, saw the firm post a record 21% annual revenue growth and a 42% earnings growth, beating analyst estimates for both. By the end of last year’s September quarter, 66 of the 920 hedge funds surveyed by Insider Monkey had invested in the firm.

Analog Devices, Inc. (NASDAQ:ADI)’s largest investor is David Blood and Al Gore’s Generation Investment Management which owns 5.1 million shares that are worth $838 million.

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