10 Cheap Jim Cramer Stocks to Invest In

8. Leidos Holdings, Inc. (NYSE:LDOS)

Number of Hedge Fund Holders: 47

Forward P/E: 13.77

Leidos Holdings, Inc. (NYSE:LDOS) is one of the 10 cheap Jim Cramer stocks to invest in. As per a news release on June 17 on the company’s website, it has received a five-year, $35 million award to support the Cross-Domain Enterprise Services program for the Defense Information Systems Agency (DISA). The company will oversee the design, engineering, and operations of DISA’s data-sharing platform, which supports the transfer of information between classified and unclassified networks.

At its latest earnings call, Leidos (NYSE:LDOS) management strongly emphasized the company’s “NorthStar 2030 strategy.” Following that, the company announced the acquisition of Kudu Dynamics in an all-cash transaction, valued at approximately $300 million, on May 28 (closed May 23). With the acquisition, Leidos (NYSE:LDOS) aims to accelerate the growth of its AI-enabled cyber capabilities for defense, intelligence, and homeland security customers.

Additionally, on June 17, when a caller inquired about the company, Cramer replied:

“Leidos, I like it. You know, look, I am worried that the defense budget may be cut, but this is homeland security. I think it’s a good opportunity. The stock’s come down a great deal. Let’s pull the trigger.”

Leidos (NYSE:LDOS) provides technology and engineering solutions in defense, cybersecurity, healthcare, energy, and infrastructure. The company’s products include national security software, air traffic management systems, power grid support, and border security technologies.