15 Best Big Tech Stocks to Buy According to Analysts

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9. Analog Devices Inc. (NASDAQ:ADI)

Upside Potential: 24%

Number of hedge funds: 63

Analog Devices Inc. (NASDAQ:ADI) is a prominent global semiconductor company focusing on data conversion and signal processing technology. The firm designs and manufactures a vast array of analog, mixed-signal, and digital signal processing (DSP) integrated circuits (ICs). It caters to various sectors, including automotive, industrial, communications, and consumer electronics, by offering solutions that enhance performance and efficiency in electronic systems.

Technological trends such as ubiquitous sensing, hyperscale and edge computing, AI, and pervasive connectivity are driving the continuous evolution of new generations of applications, thereby increasing the demand for Analog Devices Inc. (NASDAQ:ADI)’s high-performance analog, mixed-signal, power, and RF ICs. With a robust pipeline of new products, deep domain expertise, and a commitment to expanding its market presence, the company aims to capture a larger market share.

In mid-January 2025, the U.S. Department of Commerce signed four non-binding preliminary contracts under the CHIPS and Science Act to provide up to $105 million in direct funding to Analog Devices Inc. (NASDAQ:ADI). Upon receiving the investment, CEO and Chairman Vincent Roche stated:

“ADI is at the forefront of innovation in the expansion of U.S. semiconductor manufacturing. Our focus on enabling innovation at the Intelligent Edge is driving advancements in process technologies that are critical to our global customer base. This investment will help us strengthen our workforce training and community partnerships, as well as expand our efforts to manage our environmental footprint.”

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