5 Technology Stocks to Buy According to Kevin Mccarthy’s Breakline Capital

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

Breakline Capital’s Stake Value: $6,221,000
Percentage of Breakline Capital’s 13F Portfolio: 8.38%
Number of Hedge Fund Holders: 72

Analog Devices, Inc. (NASDAQ:ADI) is a high-performance semiconductor firm that designs, develops, manufactures, and markets integrated circuits worldwide. Analog Devices, Inc. (NASDAQ:ADI) said on March 4 that it will invest EUR 100 million in ADI Catalyst, a 100,000-square-foot custom-built communication and collaboration centre at its Limerick, Ireland, headquarters over the next three years.

On February 17, Deutsche Bank analyst Ross Seymore cut his price target on Analog Devices, Inc. (NASDAQ:ADI) from $200 to $185 and maintained a Hold rating. In a research note to investors, Seymore stated that Analog Devices, Inc. (NASDAQ:ADI) had another solid quarter as demand rose sharply.

In Q4 2021, 72 hedge funds monitored by Insider Monkey were long Analog Devices, Inc. (NASDAQ:ADI), with stakes equalling $4.71 billion. Unio Capital is one of the prominent stakeholders of Analog Devices, Inc. (NASDAQ:ADI), owning 43,047 shares worth $804.76 million. In the fourth quarter, Breakline Capital increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 27%, and the hedge fund’s position in the company is now worth about $6.22 million.

In its third-quarter 2021 investor letter, Madison Funds mentioned Analog Devices, Inc. (NASDAQ:ADI). Here is 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.”