Here’s Why Analog Devices (ADI) is Experiencing Moderate Demand Now

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Madison Investments, an investment advisor, released its “Madison Investors Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund advanced 8.5% compared to an 8.7% 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 second 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 July 14, 2023, Analog Devices, Inc. (NASDAQ:ADI) stock closed at $191.97 per share. One-month return of Analog Devices, Inc. (NASDAQ:ADI) was 1.92%, and its shares gained 21.52% of their value over the last 52 weeks. Analog Devices, Inc. (NASDAQ:ADI) has a market capitalization of $96.257 billion.

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

“The bottom five individual contributors for the quarter were U.S. Bancorp, Progressive, Analog Devices, Inc. (NASDAQ:ADI), Dollar Tree, and Danaher. Analog Devices and Danaher are both seeing end market demand moderate (in semiconductor and medical research, respectively) compared to the artificially high levels they experienced for two years due to the post-Covid chaos in supply chains. Despite these near-term dynamics, we think the longer-term outlooks remain excellent in both cases.”

Semiconductor, Technology, Component

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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, 73 hedge fund portfolios held Analog Devices, Inc. (NASDAQ:ADI) at the end of first quarter which was 75 in the previous quarter.

We discussed Analog Devices, Inc. (NASDAQ:ADI) in another article and shared the list of best NASDAQ dividend stocks to buy. In addition, please check out our hedge fund investor letters Q2 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.