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The Street
The Street
Ian Krietzberg

Cathie Wood Doubles Down On One Jim Cramer-Approved Tech Stock

Cathie Wood has faced her fair share of criticism. 

Jim Cramer -- also known for his unconventional investment calls -- has been critical of Wood in the past. Last year, he referred to Wood as "the kiss of death," warning his viewers to avoid the stocks she buys. 

In January, Cramer took another shot at the Ark Invest CEO, saying "I have to hand it to Cathie Wood and her buying of Teladoc, she is not fazed by anything including her own poor performance or the poor performance of this stock... Radically strong."

DON'T MISS: Cathie Wood Buys Millions of Dollars Worth of an 'Undervalued' Company

Now, though, the two controversial investors seem to be in agreement on a company called Teradyne.

Wood's flagship Ark Innovation ETF picked up 270,671 shares of (TER) June 13, worth around $30 million. Her shares of Teradyne now make up .40% of the ETF, which is dominated by Tesla, Roku and Zoom. 

Teradyne hit a 52-week high of $112.16 June 13, surging up from $105 the previous day. 

Just the day before, Cramer called Teradyne a "buy. I know that management from way, way back," he said, "I think that thing is terrific." 

More on Cathie Wood investments:

Teradyne is a high-tech automation company. It builds robots designed to handle automated tasks and it provides testing for electronics, including circuit boards, wireless testing and semiconductors. 

Teradyne reported revenue of $618 million for its first quarter of 2023, down nearly 20% from the previous year. Its earnings were $.55 per diluted share. 

“Looking ahead," Teradyne's CEO Greg Smith said, "we expect stronger demand in automotive and industrial semiconductor test to help offset ongoing weakness in smartphone-related end markets."

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