15 AI News You Should Not Ignore

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

Number of Hedge Fund Holders: 63 

Analog Devices, Inc. (NASDAQ:ADI) designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products. On November 27, Evercore ISI raised the price target on the stock to $280 from $254 and kept an Outperform rating on the shares. The advisory believes guidance contemplates a cautious supply chain, which has undergone seven quarters of inventory correction and is heading to below normal levels. This, combined with its view that Analog is shipping about 22% below consumption, leads the advisory to contend that the company should be set up for a material snapback in demand starting in the January or April-end quarter.

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