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What Makes Analog Devices (ADI) an Attractive Investment?

Madison Investments, an investment advisor, released its “Madison Investors Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund was up 6.5% compared to a 7.5% return for S&P 500 Index benchmark.  In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Investors Fund highlighted stocks like Analog Devices, Inc. (NASDAQ:ADI) in the first quarter 2023 investor letter. Headquartered in Wilmington, Massachusetts, Analog Devices, Inc. (NASDAQ:ADI) is a semiconductor company that designs and manufactures integrated circuits (ICs), software, and subsystems. On April 14, 2023, Analog Devices, Inc. (NASDAQ:ADI) stock closed at $188.51 per share. One-month return of Analog Devices, Inc. (NASDAQ:ADI) was 1.43%, and its shares gained 20.45% of their value over the last 52 weeks. Analog Devices, Inc. (NASDAQ:ADI) has a market capitalization of $95.358 billion.

Madison Investors Fund made the following comment about Analog Devices, Inc. (NASDAQ:ADI) in its Q1 2023 investor letter:

"Analog Devices, Inc. (NASDAQ:ADI) grew profits nicely in 2022, bucking the overall semiconductor industry trend of a decline brought on by a drop in demand and excess inventory in the channels. Analog is one of the leaders in the analog semiconductor segment, where supply is much more constricted due to the shortage of engineering expertise and new capacity construction. Thus, the company often beats to a different drummer than the rest of the semiconductor industry."

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Analog Devices, Inc. (NASDAQ:ADI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 75 hedge fund portfolios held Analog Devices, Inc. (NASDAQ:ADI) at the end of the fourth quarter which was 66 in the previous quarter.

We discussed Analog Devices, Inc. (NASDAQ:ADI) in another article and shared the list of largest semiconductor companies in the world. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.