Jim Cramer’s Bold Predictions About These 15 Tech Stocks

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

Number of Hedge Fund Holders In Q3 2024: 53

Date of Cramer’s Comments: 10-09-24

Cramer was extremely bullish about chip design IP provider Cadence Design Systems, Inc. (NASDAQ:CDNS). The firm is one of the few of its kind that provides the building blocks when it comes to designing chips. The proprietary nature of its technologies provides Cadence Design Systems, Inc. (NASDAQ:CDNS) with a wide moat, and here’s what Cramer had to say in October:

“Not an issue. 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 Systems, Inc. (NASDAQ:CDNS)’s shares have been on quite a ride since Cramer’s remarks. They fell by a whopping 11.7% a couple of days after Cramer’s comments after ASML’s 2025 guidance cut reverberated throughout the semiconductor equipment industry. However, Cadence Design Systems, Inc. (NASDAQ:CDNS) roared back to life at October-end, when its Q3 results saw it raise full-year annual profit per share guidance to $5.90 from an earlier 5.87. The roller-coaster of a performance continued in December, when after touching an all-time high, the stock tumbled after peer Synopsys’s weak quarterly results.