5 Stocks Better than AMC According to Hedge Funds

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

Number of Hedge Fund Holders: 62

Analog Devices, Inc. (NASDAQ:ADI) is placed second on our list of 10 stocks better than AMC. The firm makes and sells semiconductors and is headquartered in Massachusetts. 

On September 20, investment advisory JPMorgan upgraded Analog Devices, Inc. (NASDAQ:ADI) stock to Overweight from Neutral and raised the price target to $215 from $119, noting that semiconductor firms with solid market leadership were poised for strong growth. 

At the end of the second quarter of 2021, 62 hedge funds in the database of Insider Monkey held stakes worth $5.7 billion in Analog Devices, Inc. (NASDAQ:ADI), up from 50 the preceding quarter worth $4.8 billion.

In its Q4 2020 investor letter, Weitz Investment Management, an asset management firm, highlighted a few stocks and Analog Devices, Inc. (NASDAQ:ADI) was one of them. Here is what the fund said: 

”Analog Devices benefited from several global, long-wave trends such as automation, electric vehicles and the 5G network build-out. The company’s quarterly sales into the auto, industrial and communications sectors exceeded expectations, giving the stock a lift.”