Top 5 Stocks to Buy According to Patrick Degorce’s Theleme Partners

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

Degorce’s Stake Value: $197,640,000
Percentage of Patrick Degorce’s 13F Portfolio: 5.77%
Number of Hedge Fund Holders: 62

Analog Devices, Inc. (NASDAQ:ADI) is placed fourth on the list of top 9 stocks to buy according to Patrick Degorce’s Theleme Partners. The firm provides data converters that transform analogue signals into digital data and digital data into analogue signals. In the second quarter of 2021, Patrick Degorce’s Theleme Partners held 1.15 million shares of Analog Devices, Inc. (NASDAQ:ADI), amounting to $197.64 million in worth representing 5.77% of the fund’s portfolio.

On September 20, JPMorgan analyst Harlan Sur upgraded Analog Devices, Inc. (NASDAQ:ADI) to “Overweight” from “Neutral,” raising his price target to $215 from $119. In August, China’s State Administration for Market Regulation gave antitrust clearance to the previously announced acquisition of Maxim Integrated Products Inc. (NASDAQ:MXIM) by Analog Devices, Inc. (NASDAQ:ADI).

Analog Devices, Inc. (NASDAQ:ADI) is getting the attention of the smart money, as 62 hedge funds tracked by Insider Monkey reported owning stakes in the company at the end of the second quarter, up from 50 funds a quarter earlier.

In its fourth-quarter 2020 investor letter, Weitz Investment Management mentioned Analog Devices, Inc. (NASDAQ:ADI). 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.”