Jim Cramer on 10 Stocks With The Biggest Declines Last Week

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

Number of Hedge Fund Holders: 59

Cramer commented on Cadence Design Systems, Inc. (NASDAQ:CDNS) stock’s recent weakness and said:

“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.”

Cadence Design Systems (NASDAQ:CDNS) provides software, hardware, and services for integrated circuit design, specializing in functional verification and offering tools for digital IC design, synthesis, DFT, and physical implementation.