10 Best Jim Cramer Stocks To Buy According to Analysts

4. Cadence Design Systems, Inc. (NASDAQ:CDNS)

Average Price Target Upside: 23.05%

Number of Hedge Fund Holders: 64

On October 9’s episode of Mad Money, Cramer said to buy more of Cadence Design Systems, Inc. (NASDAQ:CDNS) shares.

“Stay long [on] it. I just checked in with them again. I think they’re doing incredibly well. Cadence is a winner. Stay long [on] it. Buy some more.”

Cadence Design (NASDAQ:CDNS) offers software, hardware, services, and reusable integrated circuit (IC) design blocks on a global scale. In the previous year, the company achieved sales of $4.09 billion through a diverse network operating across 26 countries. On October 15, TipRanks reported recent insights from Berenberg analyst Nay Soe Naing that highlight the company’s strong position within the semiconductor design solutions sector. Naing emphasizes that the company plays a vital role in fostering innovation in the industry, benefiting from structural trends driven by ongoing technological advancements.

The analyst points out that its business model, heavily reliant on research and development spending, insulates the company from the cyclical nature often seen in the semiconductor market. This unique positioning allows Cadence Design (NASDAQ:CDNS) to maintain stability while capitalizing on growth opportunities.

The report indicates that the company is outpacing its competitors, thanks in part to its high-quality product portfolio and operational efficiency. Furthermore, the potential for capturing market opportunities in AI-driven semiconductor design is expected to accelerate this growth. Supporting this positive outlook, Naing has assigned a Buy rating to the company’s stock, with a price target of $320.