Coatue’s 35 Most Important AI Stocks

22. 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. The report for the fourth quarter signals great financial growth for the firm. For instance, the reported revenue was more than $2.4 billion, above the midpoint of guidance with sequential growth across all end markets. Also, fiscal revenue was more than $9.4 billion, operating cash flow was $3.9 billion, and free cash flow was $3.1 billion. These metrics demonstrate excellent business performance, with the company exceeding revenue targets, achieving robust growth across all sectors, and generating strong cash flow, positioning it for continued success. The US Department of Commerce has also signed four separate non-binding preliminary memoranda of terms (PMT) under the CHIPS and Science Act to provide up to $105 million in proposed direct funding to the company.