Did Jim Cramer Get These 23 Stocks Right?

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

Number of Hedge Fund Holders: 59

In that older episode, Cramer highlighted Cadence Design Systems, Inc. (NASDAQ:CDNS) as a key Nvidia partner with a solid track record:

“Cadence has a long and multifaceted relationship with Nvidia… both stocks have been unbelievable performers.”

However, Cadence Design Systems, Inc. (NASDAQ:CDNS) has dropped by 19.70% since Cramer discussed it.

Cramer commented on Cadence Design Systems, Inc. (NASDAQ:CDNS) stock’s recent weakness on the 24^th of February, saying:

“Finally, the eighth largest decline during the final three days of the last week was Cadence Design Systems. Wow, good company, software play that helps tech companies design semiconductors and electronics, including Nvidia. Cadence fell 14% during the three-day period. We were looking at it mostly on Wednesday after the current report, a solid quarter with conservative guidance. But the stock kept falling at the end of the week as more concerns about overbuilding for AI infrastructure emerged. Cadence is a, is fully a part of that theme.

So it continued to get hit, with the stock not, not far from the 52-week low now. It might actually be worth thinking about buying on weakness. Candidly, this weakness for Cadence could carry over to Nvidia when it reports on Wednesday. I’m just trying to keep you up on a stock that you may own.”