5 New Stock Picks of Suraj Parkash Chopra’s Force Hill Capital Management

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

Force Hill Capital Management’s Stake Value: $21,516,000

Percentage of Force Hill Capital Management’s 13F Portfolio: 5.31%

Number of Hedge Fund Holders: 74

Suraj Chopra’s Force Hill Capital Management owns a $21.5 million stake in Analog Devices, Inc. (NASDAQ:ADI), buying 128,470 shares of the company during the third quarter. The stock accounts for 5.31% of the fund’s Q3 portfolio. Analog Devices, Inc. (NASDAQ:ADI) is a Massachusetts-based semiconductor company, with expertise in data conversion, signal processing, and power management technology. 

Analog Devices, Inc. (NASDAQ:ADI), on November 23, declared a per share quarterly dividend of $0.69, which was paid on December 14 to shareholders of record on December 3. 

Announcing its Q3 results on November 23, Analog Devices, Inc. (NASDAQ:ADI) published earnings per share of $1.73, beating estimates by $0.03. Revenue over the period increased 53.28% year-over-year, reaching $2.34 billion, surpassing estimates by $30.81 million. 

Barclays analyst Blayne Curtis on January 12 lowered the price target on Analog Devices, Inc. (NASDAQ:ADI) to $180 from $195 and kept an Overweight rating on the shares.

David Blood and Al Gore’s Generation Investment Management is the leading Analog Devices, Inc. (NASDAQ:ADI) stakeholder from the third quarter of 2021, with 3.8 million shares worth $641.8 million. Overall, 74 hedge funds were long Analog Devices, Inc. (NASDAQ:ADI) as of Q3, up from 62 funds in the prior quarter. 

Here is what Madison Funds has to say about Analog Devices, Inc. (NASDAQ:ADI) in its Q3 2021 investor letter:

“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.”