Goldman Sachs’ 35 AI Superstars

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. This company is an exceptional investment option for various reasons. For instance, the company’s strong financial performance and ability to generate significant cash flow portray it as a compelling choice, as illustrated in the report for the fiscal year 2024. Reported revenue was more than $2.4 billion, exceeding the expected range and showing sequential growth across all end markets. In addition, fiscal 2024 operating cash flow was $3.9 billion, and free cash flow was $3.1 billion. Moreover, the US Department of Commerce has 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 Analog Devices. As the company is at the forefront of innovation in the expansion of US semiconductor manufacturing, this investment would strengthen its workforce training and community partnerships.