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ON Semiconductor Corporation (NASDAQ:ON) was among the stocks on Jim Cramer’s radar on Mad Money as he discussed the upcoming earnings. Cramer noted that the “semis are on fire of late,” as he said:
The semis are on fire of late, including On Semi, long viewed as a company that’s tied just to the auto industry. Some would say too tied, but so is NXP Semiconductors. And did you see that? That stock went parabolic after it reported this week. That would cut to buying some On Semi, I would think.
Stock market data. Photo by Photo by Alesia Kozik
ON Semiconductor Corporation (NASDAQ:ON) provides intelligent sensing and power solutions, including integrated semiconductor devices for power conversion and signal conditioning. Cramer discussed the stock during the April 20 episode and commented:
Finally, rounding out the top 10 performers in the S&P 500 since the bottom is ON Semiconductor, which ended up in fifth place, up 49%. Bit of a mystery to me. ON Semi, as it’s known, makes power and sensing chips but mostly for the automotive end market, which is supposed to be weak. The best I can tell is that the demand for CPUs has bled into… scenarios like this or that ON stock is doing well thanks to a combination of demand for power chips and lower interest rates, which investors think will boost new auto sales. Either way, I’ve long followed ON Semi, and I like their CEO, Hassane El-Khoury, so I won’t complain about the nice pop of the stock.
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