"It's disappointing to own a stock that goes down, but sometimes you have to use it to buy more," he said, after the company guided poorly for the fourth quarter.
Cramer added that management will likely buy back a decent amount of stock under its aggressive share repurchasing program.
Although the fourth-quarter outlook was weak, Cramer remained optimistic on the longer-term future, saying that the company should see a few big contracts come from China.The companies that seem to be struggling the most now are the ones that said everything is going fine and then failed to deliver on earnings. Cramer said that Xilinx has a brighter future than its past and that its past was pretty bright to begin with. The stock should do well in 2014, especially sometime around the second quarter, he said. Cramer concluded that some companies, like eBay (EBAY), are doing well now, but aren't expected to in 2014. He said he would much rather own a company that is struggling now, like Xilinx, but that will be strong next year. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell