Analog Devices Inc. (ADI) emerges as one of the best QQQ stocks to buy, with Truist raising the price target to $249 post strong Q3 results. Revenue hit $2.88 billion, up 25% YoY, with growth across all segments. GAAP gross margin rose to 62.1%, non-GAAP gross margin to 69.2%.

Analog Devices Inc. (ADI) reported significant Q3 earnings growth, with a 25% YoY revenue increase. Industrial segment grew 23%, automotive 22%, communications 40%, and consumer 21%. GAAP gross margin rose to 62.1%, non-GAAP margin to 69.2%. GAAP diluted EPS at $1.04, non-GAAP at $2.05, a 30% increase.

ADI, a US-based company, designs, manufactures, tests, and markets ICs, software, and subsystems products globally. While ADI shows investment potential, other AI stocks may offer greater upside and less risk. A free report on undervalued AI stocks is available for those seeking opportunities.

For more insights, explore “30 Stocks That Should Double in 3 Years” and “11 Hidden AI Stocks to Buy Right Now.” This article was originally published at Insider Monkey. No disclosures.

Read more at Yahoo Finance: Truist Raises Analog Devices (ADI) PT to $249 After Strong Q3 Results